Some interesting ideas from Amir, who has done some work with Kremer mediums to make his own version of water soluble encaustics:
One is called “Translucent Wax Wall Paint Medium” (Kremer item #79228) which need to be diluted with distilled water if one intends to use it as a medium. I simply mix quality gouache paint with it and voila, water-soluble wax paint! In addition to beeswax, this emulsion contains linseed oil and casein as binders. After a painting session, I leave it overnight to fully dry then I set the paint with a heat gun the next morning. To use it as a binder to make my own paints, I mix it full strength (undiluted) with dry pigment to form a paste, then use distilled water to dilute this paint. (The reason why I keep mentioning “distilled water” is because hard water contains calcium which reacts with the alkalis in the medium which results in poor drying, etc.)
I received a sample set of paints using the new formulation, which I assume will be the only type available from now on. The paint is quite changed in the speed it sets up on the palette. For me, this has not turned out to be an advantage, since it makes palette management harder (and it was already kind of hard). The old formula would stay loose and rewettable overnight if I covered it with plastic wrap; the new formula has to be discarded more quickly. I am not as clear on how the paint has changed on the canvas. So far, I find it can still be lifted if re-wetted, even after a day or more. It certainly doesn’t behave like egg tempera, which sets hard very quickly and can be overpainted without lifting. Cuni says the new formula cures more quickly. I’m not sure if he means this change is noticeable in a range of time that really affects painting technique. I don’t have enough experience with it.