I have a bit of experience of water based paint (albeit another brand) and it isn't particularly good. Hopefully it is reasonably relevant if only to see what can happen if it doesn't go so well!
We moved into our new place last September and were fortunate enough to be able to buy a place with a 70 sqm garage - something i've always dreamed of having - particularly a "clean room" style garage. It started out like this:
The idea was to paint the walls and the floor. I wanted to do it properly - i.e. use an Epoxy solution. However, first world problems being that they are - the floor area was so big it would have cost a fortune to do it and having just moved it - we couldn't justify the outlay. So I looked around and stumbled across Watco and they seemed like a pretty decent outfit and I couldn't find any bad reviews.
I elected for their Watco concrete floor paint as it was most cost effective (
http://www.watco.co.uk/watco-concrete-floor-paint.html.
I followed the instructions on the site at the time which were pretty limited. They are much more comprehensive now and it also includes a video I see - none of that was there when I bought the paint - just basic instructions.
I took back the sections with over spray on them, swept, washed, and degreased the floor - all in line with the instructions at the time.
I started with the edges as a test/pilot and the next day was pretty disappointed to find this:
The paint had lifted. I got on to Watco about this and to be fair they were pretty decent about it and sent me a couple of bottles of Concrete Sealer for nothing - at the expense of a few barbed comments such as "we thought that any one doing this would know they'd have to use this as most our customers are trade" despite their site being advertised as trade and retail.
Anyways, used the sealer and it did take much better this time:
However, with traffic and working on the cars - it has started to lift again in places - particularly when the car has been stored in there and has been wet:
If I was doing this again, I would save for an epoxy (which was around 4-5 times the cost of the paint if I recall) or go for a two-pack based alternative. I recommend you do the same. The floor is functional although not as nice looking as i'd like and will be good enough for a few years, but ultimately i'm going to have to pull it up and do it again at some point.
It's difficult to comment about Watco as they weren't dismissive or snotty really, but I would have liked a bit more help at the time. I have no more of the paint left to cover up the patches and i'm not going to pay 70 quid for a tin to do so).
Hope my experience helps.