I too tried lacquer thinner, acetone, MEK, reducer for enamel auto paint. It would thin it, but it had a milky, sort of look. It also was settled to the bottom and was solid rubber. Not sure what could be used to thin it. Being I am in Kalifornia, I am not able to get either so I am left with cheap hair spray.
The two thing it was great for was fuel proofing and zero dust. Help covering stick to plywood like it was foam.
Buzz.