We demonstrate essentially complete exfoliation of graphene aggregates in water at concentrations up to 5% by weight (166-fold greater than previous high concentration report) using recently developed triblock copolymers and copolymeric nanolatexes based on a reactive ionic liquid acrylate surfactant. We demonstrate that the visible absorption coefficient in aqueous dispersion, 48.9 ± 1.3 cm(2)/mg at 500 nm, is about twice that currently accepted, and we show that this value is a greatest lower bound to extant macroscopic single sheet optical studies of graphene when one considers both fine structure constant and excitonic mechanisms of visible absorption. We also show that dilute and concentrated graphene dispersions are rheo-optical fluids that exhibit an isotropic to nematic transition upon application of a shear field, and we demonstrate stimuli-responsive phase transfer.