that's a shame. and an interesting coincidence. i just bought a red print there, too. it didn't bleed in the wash, but my iron gets red gunk on it when i press.
i was really surprised because i've never had a single fabric of any color from walmart bleed. only 2 or 3 have ever shrunk (shrank?) a teeny bit. the only fabs that have ever bled on me or shrunk badly have been LQS grade that are $9 and up if not on sale.
which fabric was it? was it this one? if not, can you post a pic?