I'm on my second Colossal Kajal new 12 hr formula and it is better than the earlier version. I don't find any difference in pigmentation but this one is creamier and softer and definitely lasts longer. I've not worn this for 12 hrs so dunno if it will last that long but I've worn it for 9 and it's performance was impressive. There was slight smudging on the waterline specially towards the inner corners but on the upper lids, Colossal was intact after 9 hrs. I don't have oily lids so liners and pencils usually last longer on me but if you have oily lids, this might start to smudge earlier. My only problem with the kajal is that it gets over very fast and I hope we get more quantity. My first one did not even last a month and it's not as if I was using a lot of it everyday.
Leaving the getting over soon part aside, I really like this newer version. The quality is great and so is the price. If you are looking for a budget-friendly eye liner/kajal, go for the new Maybelline Colossal 12 hr formula. Don't think you will find a better one at this price.