trailer deck weatherproofing

Has anyone tried this for waterproofing the underside of your trailer deck?
http://www.graceathome.com/pages/downloads/ForRoofs_Brochure.pdf
I've used this and similar materials from Grace in construction for weatherproofing and have had excellent results. It is fairly easy to apply to a flat surface. It is not intended as an exterior surface, so that may be an issue. It is also not cheap.
http://www.graceathome.com/pages/downloads/ForRoofs_Brochure.pdf
I've used this and similar materials from Grace in construction for weatherproofing and have had excellent results. It is fairly easy to apply to a flat surface. It is not intended as an exterior surface, so that may be an issue. It is also not cheap.