[Sudsy]

It could be pulling back due to an incompatability between the surface tension of the paint and the clear coat, it happened to me once and that's how the engineer guy at the paint co. explained it. FYI, it was Envirotex over Lumiere light body acrylic metallics.

A coat of Modern Options brand waterproof sealer (glorified name for some formulation of polyurathane) as a scratch coat before the Envirotex solved the problem.

To get the finish to run smooth and to remove the bubbles I put it on the spinner, hit it with a hairdryer gently blowing through the back. Hot Co2 works like a charm, just make sure to blow out the inside of the dryer with some compressed air every now and then to avoid sticking small clumps of dust in the finish.