I did a test application. Mine came out looking more like a $500 Compton backyard paint job lol!
It looks pretty good matte if you use a really dry roller. The problem is that the coating is very thin and hard to peel off. You'd have to do a lot of coats to get a thick enough coating to peel easily. Putting on a thicker coat causes a lot of tiny bubbles and a very "orange peel" type look. It's also very difficult to get a consistent coating without roller trails.
It's definitely worthwhile to protect your paint. For faking a frozen color, not so much IMO.
2008 IB E92 M3| BBS | KW | Arkym | Platte Forme A.G. | Active Autowerke | K&N | Fabspeed | Dinan | Evolve-R