Yes, it is actually still a little red. It depends on how long you wait before washing it off. I usually jump right to editing so it ends up being on my skin for a few hours before I wash it off. I'm always completely covered with red splotches.
I know. I keep ample amounts of it around at all times. But it beats the shit out of home-made corn syrup types. The corn-syrup kind doesn't stain and does serve some good purposes (oozing from the mouth) but it doesn't look nearly as good as the theatrical blood.