I don't have access to my books right now, so I can't quote, but the Princeton Encyclopedia of Poetry and Poetics (which everyone should own) calls New Formalism more a marketing strategy than an actual movement. That definition seems astute and not, as some readers may find it, damning. Movements as they decompose tend to trap the artists associated with them.
I will take this time to remind everyone of this great and hilarious poster created when Rick Mullin and I did a reading at the very-much-not-formalist Son of a Pony reading series. "Cutting Edge Neo-Formalists"!!!:
http://threeroomspress.blogspot.com/...oets-rick.html