I use it, and it works fine for both plastic and PVC blanks. I used it on a balsa bait, too, after I seal the balsa with super glue. The Createx paints I use bond to it just fine, once it's cured.
I typically do two coats, waiting 15 minutes between coats, and then let them cure for 24 hours.
I spray outside, because it has fumes, and put the wind at my back. I could spray inside with a respirator, but it's easy to just step outside to do it.
I bring them inside to cure when it's cold in the garage.
I use the X2 Gloss Clear for a top coat, two coats, and follow the same steps. Works for me.