Yes, it is an Epoxy cover. I just saw it demonstrated at the Classic Expo in Fort Wayne, IN. There were 3 test balls. A red one, a blue one, and one with a "resurface meter" on it with the velocity logo stamped on it, though it wasn't a velocity.
THe blue ball made a literal left turn in the oil and was in the left ditch by the end of the oil pattern. The oil stays on the ball for less than a second so by the time the ball makes a full rev, there is a fresh surface for the ball to roll on, AMF 300 claims to be able to control this and this is how they will control the amount of hook the balls produce.. THe red ball was a nice smooth reaction and looked just like the other blue "velocity" The cool thing about the "velocity" was the resurface meter. THe bottom of the ball starts out all blue and the rest of the ball is a whitish color. As the ball gets oil on the cover it soaks in in under 1 second and turns the surface blue. As the white surface becomes blue the more oil it has. When the entire surface is blue then it is time to resurface the ball. It will last for about 150 games the first time, 80 games the next.. THen I can't remember if he said it is toast after that or you can get another 60 games out of it. But once he said it fills up for the last time, it is time to dump it in the trash... He said they like the idea because they can gauge how long a ball will last and will be able to dictate it and tell the customers easier...
Also, they said that if someone tries to use ACETONE on the ball it will show up easily and will void the warranty. ACETONE is not to be used on the new cover and will ruin the ball. Each ball will come with instructions on how to take care of the ball and it is up to the shop opperators to let the customers know how to care for the ball..
I am very excited to see these new balls come out. Only problem is, they take 1 and a half hours to cure where a normal urethane or resin based ball takes from 12 - 20 minutes to cure...