It shades a bit if you have a broader nib or a good paper, but you probably won't notice it much on regular papers.
It doesn't bleed very often. You might see a dot or two bleeding through on comp book paper, but that's about as low as paper quality gets. It does tend to feather just a little because it's just slightly wet-flowing. The feathering is very slight, though, and not enough to bother me.
I wrote the review with a fine nib, but I think this ink would perform really well in something with a slightly dry feed and a broader nib. I think it would work really well in a Pilot Metropolitan with a Plumix nib, for example. I'll be talking about that pen/nib combo in the near future. (I prefer to take my pictures with natural light, and it's been too overcast to take pics today.)
Here's the video where I do a water-test on the ink.
I really liked this ink. I have a predilection for blue inks, and this one is different enough to get my attention. I endorse it.