Its always a good idea to test new paints for compatability before using it on a project. When I put a crown on my arrows I use an fast dry oil based enamel thinned enough to just give me good coverage but so far all I've done is white crown
dips.
So far I have used all oil based finish.
My sequence is - stain, 0000 steel wool, full length polyuerthane dip, 0000 steel wool, crown dip, very lightly steel wool, crest, full length polyuerethane dip. With appropriate dryin times between each coat. This has given me a very durable and attractive arrow finish.
There are practicaly an infinite number of ways to finish arrows, some better than others, so experiment a little and see what works for you.