The formula is water-based with ammonia, vs. the old petroleum-based formula. The new stuff appears to have the micro silica granules because there did appear to be major sedimentation in the bottle. It is no longer listed as an ingredient, probably because it is not toxic.
I'm not sure if they changed the granule size, but the new product does NOT immediately produce black copper oxide the same way as the old formula.
Of course, my goal here is not simply to whine. Altough whining is a component of the set of my reasons for being here, I would also like to ask if anyone knows if a suitable substitute in available. Is it also possible to buy microcrystalline silica (or carborundum, etc.)? I have Varsol, and I know how to use it.