it's used to increase bud production. Mostly on phals. But even then some plants will not grow leaves/roots to form a new plant.
I've had a Phal that spontaneously formed several Keiki (leaflets that can grow into a new plant), so after i cut them off i used the paste to produce the 2nd generation of keiki on the same flower stem.
You have to wait for roots to form before you separate them.
They are slow to grow, but you do get a clone of mama that will bloom in a few years. I had 3 generations this way.
I also have used it to encourage leaf bud formation on Crotons and Ficus lyrata: to increase branching. But mostly to increase the number of new branches after air-layering. It is hit and miss: sometimes even after a bud will form it will not develop further.