I bought a couple of cans of this by mistake, recently, thinking I was ordering CLP. It's a light solvent with a citrus odor that removes all oils and residues from the gun and dries almost immediately, leaving the metal completely bare.
I tried it last night on my Glocks and it worked very nicely indeed. After spraying down the guns, it seemed as though the slide rails and other surfaces had very little powder residue left in them. They say you can even use it on guns without dissembling them. Overall, it reduced my gun-cleaning time a bit and left my pistols with a pleasant lemon scent.
It doesn't replace CLP, and I didn't even try using it on the barrel. You would also have to be careful to quickly get some protective lubrication on guns liable to rust, but I think I'll keep using it.