I don't know where you get your information, but Engine Ice is a great product, I've used the product in every bike I've ever owned and living in PA, our winters are just as cold as anywhere. As far as water wetter, it is to be used with distilled water and made mainly for tracks only where anti-freeze is prohibited.
The facts;
Engine Ice Hi-Performance Coolant is biodegradable, phosphate free & non-toxic; reduces operating race temperatures and effectively keeping boil over temperatures to 256 °F or less and freeze-up protection to -27° F.
Engine Ice Hi-Performance Coolant is premixed with de-ionized water to protect your water cooling system from scarring, scaling and to effectively provide "prolonged optimum operating temperatures."