I refer to it as "Snot", "Winter Crud", "Black Slush", etc . . . and I absolutely agree that this junk is the worst of the worst, especially when its on top of an under layer of glare ice !!! What it does to a bikes components isn't pretty either, even some of my home-made welded 304 stainless steel tubing frames have suffered corrosion from this stuff and the only thing I've found that does a decent job of protecting the bikes drive chain(s) against this stuff is X-lox which is a generic lower cost version of Liquid Alox which is a combination lubricant and corrosion preventative originally designed to keep the inside bore of battle ship guns from corroding while at sea and is still used to this day as a lubricant and corrosion preventative in certain ballistic applications. I get mine in a jug from white label lubes online and its the only thing I've found that will keep a bikes chain lubed prevent corroding and binding when exposed to this snot on a near daily basis. Also helps on the brake and shifter cables to keep them from corroding and keep them from freezing up and binding up in their housings.

As to riding in this snot, good studded snow tires with knobby tread and lots of studs is bare minimum and often have to add home-made bike tire chains to that when it gets bad enough.

This snot is the worst possible winter road conditions for cycling in my opinion.