Previously in the thread, there were a few that were dosing 40ml/2 cups of Bayer Advanced Insect Killer (not the "w/ germ control" stuff, and it is the 'concentrate'). I have adopted this method for my dips, with a total of exactly 5 minute dip time.
Since I have started dipping, I have not seen a single red bug or AEFW on any of the 60 or so corals in my tank. I have not lost a single frag, and my SPS are pretty high end stuff (Red Dragon, etc). I dip everything from Sinularas to Acans, and all the corals do very well in the dip, except one. I'm not sure the species, but it turns almost white, except for the very tips of the coralites. Each dip however, after a couple weeks it begins to get it's color back.
I have been very successful with this particular method, and is much 'easier' on the corals then other dips I have used such as Lugol's and Coral Rx. Hope this helps.
Nathaniel