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OK, here's a quick review based on trying it out for a few days.
The concept is that this is a gluestick For Bigger, Tougher Projects! as the slogan on the gluestick says. The stick is actually a bit wider and taller than most others, and the glue does have more adhesive power – to the point where I'm using this gluestick regularly now for certain paper-modelling tasks, and I've never seen a gluestick I liked before.
One problem I've had in the past with gluesticks is that the glue gets brittle with age, and the paper comes apart. So far, with this glue I've noticed some glue failures as soon as the glue dries, but no longer-term failures (yet?). With the short-term failures, it's as if the glue partially dries before I can stick the paper together, or because I haven't been able to adequately burnish the two pieces together.
As with most gluesticks, after you use the stick, it can be difficult to see where glue has been applied and where it hasn't. (Elmer's does make gluesticks where the glue goes on purple but dries clear – wish they would introduce that option for their Xtreme glue stick.)
One nuisance is the cap. It goes on and secures with an audible snap... and it pops off about a minute later. It just won't stay snapped into place.
For paper modeling, it can be difficult to find a suitable glue when you need to glue large, flat surfaces together - for example, a printed veneer that glues over a plain, structural box; or a paper that folds in half to form a railing. Many other types of glue are troublesome in these applications, as the paper or cardstock is liable to warp or swell from the glue. For these situations, I find this gluestick to be a useful tool - but be prepared to touch-up areas where the glue doesn't hold, probably with another form of glue.
However, I don't find this gluestick to be useful in situations where you can't burnish the surfaces together - the glue simply tends not to stick. For instance, it failed completely when I tried using it to glue sheets of foamboard together, or when I couldn't put pressure on both sides of a join.
Bottom line: It's a useful tool, but it won't replace what you're using now.