Phil, It is a stiffer, tar-like substance when it tends to harden that enables you to need only snug clamps, not tighten the crap out of them. It protects your mufflers and pipes by eliminating the crimping caused by this sometimes previously needed over tightening. And, if you need tp pull the system apart, you spray some solvent-based lubricant, like WD-40 or others, in the slots you will cut into the muffler bushings (like stock mufflers used to come with) which will soften/dissolve the Acousti-Seal and let you rotate things pretty much right part.
We used it when we did our 22 muffler shootout years ago and use it on any exhaust system we put together. Neat stuff to be sure.
Tom