It looks like it will do everything that epoxy putty will, and it will set faster, and maybe it can be re-usable.
Looking at it, in theory it could be used for press moulding, but resin moulding would probably give you better results.
I think the main uses are covered in the Hobbyking video on youtube, quick repairs and making blobs/feet.
My next thoughts are:
How strong is it?
Is it affected by UV?
Can it be painted over?
Does it file/sand well?