No, it is open-cell foam that will absorb water readily. You need closed-cell foam that traps air so it will function as floatation. The right stuff is widely available at marine supply stores and from internet sites.
About $5 for less than a cubic foot. Your fingers would get tired after a while too.
And believe me you should take their advice and use gloves when you work with that stuff. I never found a solvent that would remove if from fingers.
Only time.
Oh yea! I agree with all, after pricing it all out for what I need, it would probably cost me a couple of hundred bucks to do what $70.00 can accomplish. Thanks to all I have already ordered through US Composites.