Its heat sensitivity could be an advantage. I use Woods metal to fill thin-walled tubing that I need to bend rather sharply. This moldable plastic might serve the same purpose and be cheaper.
Not sure what you mean by "Woods metal" but yes you could fill the tube with stuff and then wait till it cooled, then bend it, then remelt it and get it out of the tube for another use next time.
The heat sensitivity would be good in some apps and not good in other apps, it's as simple as that. It's fast to use though.
Wood's metal is a bismuth alloy melting at about 70°C (https://en.wikipedia.org/wiki/Woods_metal). It is not very malleable, but it suffices for what I use it for. Some people use sand for the same purpose, but sand moves and you have to plug the ends of the tube well. Also, sand will embed into soft metal and is hard to completely remove. I have had and reused the same 5# for many years.
Ok that makes more sense now. And yes you could try this stuff and see if it works for your particular tubing. If the walls are not too thick i would think that it would work. Let me know if you try it i sometimes need to bend small tubing too.