So I tried this mascara several more times since my last review and my final opinion is that I love it!
I don't know if the mascara "dried out" a little due to air exposure or what happened but after a few applications the odd clump effect is now gone. It does an excellent job of keeping my eyelashes relatively curled (a miracle for Asian lashes that naturally point downwards) and once dry doesn't smudge at all. It does still take a little while to dry so keep your eyes open as long as you can.
Final grade: A+!