Ok, so my tire arrived and I've used it a couple of times now. You can definitely tell the compound is different from normal tires. It seems a lot thicker and heavier, and the rubber compound is smooth and tacky compared to a normal road tire. Surprisingly, it went onto the rim more easily than a normal tire, once I got it started. (Getting it started takes a little patience since the material "wants" to stay flat rather than forming around a tube.)

I've used it for about 3.5 hours on the trainer so far. It does not squeak under heavy loads on my trainer, which was one of the annoyances I hoped it would correct. Given its thick skin, I expect it to last many years. Also, with the bright yellow color, it's not likely I will forget to swap out the rear wheel when I go for a ride outdoors.

Overall it's a decent enough product, and trainer-specific tires is a niche market if ever there was one, so at ~$20 it's not a bad deal.