Cool video Damon. I use a satin finish polyurethane and I dip all mine twice right in the can then hang them by the eye to dry. About 2 hours dry time between coats and overnight before handling. Max length on mine are about 8 inches. As for color I paint a few but prefer natural colors. Some long casts from shore necessitate color but casting distances from a boat or pole fishing it not needed for me. 

I use a pair brush to apply black stripes. I just spin the float with my off hand till I have a complete band. I only go around once because if try to remove imperfections I end up with really wide bands. After the paint has dried I might redcoat directly on top to sharpen the line. A paint pen or even a magic marker will all too.