To cut a long story short, here's what happened. The CPSC found that more than half of the tested results were a false negative. This means that toys with lead paint in them were showing up as safe. They also found that 2 of the test results using a were a false positive, probably because of the red paint ingredient that caused the particular test to malfunction. An alarming finding was that the top coat of paint, if non-leaded, could probably be responsible for the tests not detecting lead, even though lead based paint may lie beneath the layer.
On the positive side, the CPSC findings did report that a technology called XRF, or X-Ray fluorescence was pretty accurate in detecting lead. However, once again, surface coatings which are non-lead containing, could distract from the actual lead content in the product.