While you can paint over this stuff, the residue is impossible to clean off. If you are spraying around a room AC for example, it is best to apply masking tape before spraying. No amount of scrubbing will remove the residue and solvent that might work, will likely damage the factory paint and plastic on an AC unit.
I used it in hopes of making the install insect-proof. It seemed to work, but it also brought in a layer of ugly that was not there before.