Wasn't planning on addressing the sheep thing with them anyway, since it is a prescription dewormer and I would never advocate using anything OTC or otherwise extra-label without consulting a vet first, for all of the reasons Lucky P mentioned. It's asking for trouble. There are plenty of dewormers out there for sheep that are approved, not with the long-acting action, but litigation sucks, people, so don't go there.
To address the resistance: they claim that a) since resistance has not been confirmed widely in cattle parasites to eprinomectin and b) the drug spends a long time above the levels needed to kill susceptible parasites and spends very little time under that level (which is what is supposed to select for resistance), they do not feel that resistance will be an issue down the road. This is in agreement with the current line of thought that you should use the same product until it doesn't work, then switch, rather than rotate as we have been taught for years.
As for the withdrawal time: it apparently forms some sort of matrix under the skin that breaks down over a period of time (which is what releases the second wave of drug) so yes, if you inject a cow with it you are stuck wth her for 48 days.
Other things I learned: not approved for use in bulls (no safety studies performed yet) or calves under 3 months old. Also not for feedlots or intensive grazing situations. The last one is what gets me. It's something about how the manure is concentrated in these situations and is above the threshold that is allowed for background contamination. Something like as long as you don't graze the acreage for less than 4 days and/or do not exceed 50,000# animal weight/acre (I have to look that up again). Still have to wrap my mind around that one. Couldn't question it further since the guy who was supposed to do the talk was stuck in Atlanta due to weather so it was just the rep.
FWIW.