The paint is called Testor's Transparent Candy Apple Red, it comes in a 85g spray can (fairly small) and the number on the top of the can is 1605.
How I did this:
1) Clean the taillights with rubbing alcohol or whatever.
2) Tape the area around the turn signal... be careful, this takes awhile and alot of tape to get the curves right. There is a slight groove around the turn signal, so you can follow that. Also tape a garbage bag to this edging to protect your car's paint job.
3) Spray a thin coat onto the turn signal, spraying over the edges onto the garbage bag. The paint says 2 hours or something between coats, but I did 20-30 minutes or so, you can tell when it dries because it becomes whitish (sort of).
4) Spray two more even coats onto this area after the previous one dries.
5) When the final coat has dried, use 3-4 coats of clearcoat (I used 4), to give the shiny look.
6) Remove the garbage bags and tape after the clearcoat has dried.
There really is no comparison in my opinion, this is a cheap mod and I think it looks 100% better than the stock tails. From a distance, you can't tell the lights have been painted, although close-up it is evident since the layers of paint and clearcoat protrude slightly from the surface of the taillight. And yes, the turn signal flashes RED, not ORANGE!
-straight from HotNikks