We haven't tested it for anything like this - so I wouldn't want to make any claims about the product when it come to something as serious being bulletproof. That said, theoretically it probably would have some sort of protective impact greater than having nothing at all. But again, not something we've done any testing on or can make any claims to.
Reading this subthread I'm imagining the slow-mo of a bullet hitting ballistics gel coated/covered with $generic_amazing_bulletproof_coating, the impact, and the ripple effect.
I can't help but wonder if something coated with something perfectly bulletproof might actually make things worse depending on the bullet's angle - for example, under ideal circumstances, a bullet could enter and leave and take out some fat - but if everything's covered, the whole surrounding area is going to get some serious bruising instead.
