Oh! I just saw this thread, and just wanted to share that I have succesfully made my own soap paints using mica and a dash of food grade vegetable glycerin. I have the soap paints from Brambleberry and that's pretty much all they are made of- mica and glycerin, although there might be a preservative in there, too.
I decided to try making my own last year when I realized I was running out of one of my BB soap paint colors. I just mixed a little mica and vegetable glycerin together, and then borrowed one of my son's unused, small, modeling paintbrushes (for model cars), and voila! It worked great. It took a couple of hours to dry, but that was the only downside. My soap turned out great. It was a honey scented soap that I had poured into one of those Milky Way Bee Skep molds. It had a bee on it and some flowers and leaves that I 'painted'. I still have one of those soaps left (unused in order to see how long it holds up) and it still looks great after almost a year later.
IrishLass