Wonderful for water effects!
I'm not much of a scrapbooker, but I do a wide variety of crafting projects. I just used this on a custom My Little Pony to create little water drips on her, as if she just stepped out of the ocean. I also made little goggles for her with 2 buttons that, when flipped over, looked like shallow dishes. I covered the holes from the back with paper and filled them with the Glossy accents to create the effect of glass. They look great!
I can't wait to experiment with this stuff more and see what other cool techniques and effects I can discover with this stuff.