"He who marches out of step hears another drum." ~ Ken Kesey
Sounds like the formula book - IS - your pantone book.Under each color swatch there is mixing info on how Pantone got to that color.Did I read that correctly?
The comment about overactivating reds is spot on. Try 3%. And yes Sericol has a great product on their hands.
I would be worried about over pigmenting a mix and not binding all the pigment to the fabric.