I've never used NYX eyeshadows so I don't know if this is a new formulation, but I'm really happy with it.
I was going to return it just because I was having buyers remorse and already have some similar colors but I decided to try it out anyways and I am definitely keeping it.
I haven't see very good reviews for the Dream Catcher palette but I haven't personally tried it. I have heard good stuff about their newer palettes. I'm thinking they've reformulated.