Last year I tried a similar product from a local box store, more as a soil conditioner/amendment rather than mulch (but I think using as a top dressing is fine too). It was more costly than other kinds of compost they offered, and I can't say I really saw much difference from any other compost.
"...and don't think the garden loses its ecstasy in winter. It's quiet, but the roots are down there riotous." Rumi