I think I'm probably using the same stuff (it has an adhesive side that sticks when heated, and has a cloudy sort of appearance until you heat it and it goes clear). AFAIK it's just laminating film, but it's great stuff. Usually I either paint it directly (after rubbing down with acetone), or for added strength, dope light silkspan onto it and then finish as per usual.
One of the guys out here, though, made the interesting discovery that you can actually paint the adhesive side. The film still applies just as if it hadn't been painted, with no adhesion problems at all, and looks great.
Steve