Haven't tried it, but when I put that stuff on my bolt to make a new handle, I found out how quick it sets up... Your looking at 5 minutes before its rock hard. I suppose you'd be done faster but you would have no time to scrape excess or make it look pretty without a dremel. Just my .02.
It does a great job for extended bolt handles, but I really wouldn't trust it for a bedding job, it's a bit thick and sets too quickly. I'd suggest doing it right, there's a reason that it has been done the same way for decades.
I use the stick a lot for random applications, but for bedding a stock I use the paste you have to mix. The problem I found with the stick is that it is hard to stick to the surface of a lot of areas. I definitely wouldnt try it for a bedding job. If you do try it though, spit on your fingers to rub it into the surface. Otherwise it with just keep lifting up and stick to your fingers