Except that this isn't a fiscally conservative move, IMO, as it adds another $3B to our state debt and the program's financial model is questionable. Personally, though I am very supportive of stem cell research, I probably will vote no on this.
Pretty much the only Republicans who have a chance in CA are socially liberal, yes. Some of the Republican candidates for state office in recent memory have been more socially liberal than their Democratic opponents (eg Tom Campbell vs Dianne Feinstein on drug abuse). Voters here do like fiscal conservatives, it's just that the state GOP doesn't like social liberals.