Oh... think what that stuff could do if a suit were made of it.. and tiny cameras took video of your surroundings... and then made the suit display so that it looked like you weren't there...
Mount it on your roof so google earth can't find you.
Coat your enemies car with it and have it set to his normal paint colour ... until he hits the highway then set it for your cloaking usage.
The chosen clothing of a flasher. He's invisible until he flashes and then he projects an image that is larger than life.
Peeping Toms.
Muggers.
Burglars.
Jealous spouses.