It is impervious, meaning it will absorb only between 0.001% and 0.5% of its weight in water when submerged, and is therefore suitable for all applications.
Although this slip is white, it oxidizes off-white when fired.
As a general guideline, 50 lbs of dry slip mixes with about 3 gallons of water to make about 5 gallons of slip.
To get the viscosity and specific gravity that you want, you will have to make the solution in the best ratio that works for you.
This porcelain fires to Cone 5-6.