(1) If I "paint" a pearl over red-red fondant, will it look red with pearl or will it hinder the color? The color is important.

(2) Any particular brush I should be using? to dust on the dust?

(3) Should I paint on the dust before i apply the fondant to the cake or can I do it while on the cake?

If you use a white pearlescent dust, sparingly applied with a soft brush, before you place on cake you should be ok. I would shake the loose dust off the ball before applying and be very careful not to touch the product with your "dusty" hands.

I am trying to achieve a look like this: http://cakecentral.com/modules.php?name=gallery&file=displayimage&pid=91014

I have ribbons to attach to the sides as well as "polka dots".. will the fondant stick to fondant that is lustered?

I think that the cake in your picture has been sprayed rather than dusted, including the ribbon bow?Not sure what anyone else thinks

regards

I as well think that has been sprayed by a can of pearl luster dust.. they are about 10 bucks and you can order them from most any cake sites, they work well for large surfaces. When I am using luster dust with a brush, it tends to get splotchy over large surfaces, but maybe my technique..I am not sure..

I like the flat red color on the bow against the shiny "wrapping paper". Nice contrast and very professional looking, IMO.