I am aware of this product but I am not aware of it being used to treat flies or fly lines.
Ralph Cutter and I had an email discussion of nanotechnology for superhydrophobic compounds/coatings about 16 months ago. He is working with a manufacturer that is trying to incorporate it into outdoor clothing and equipment.
The test for how well a product repels water is to measure the contact angle of a water droplet on the surface.
"Discovery consists of seeing what everybody has seen and thinking what nobody has thought"..........Szent-Gyorgy