Now:
How do I store it without it going bad? Does it need to go in the fridge so it won't grow green fuzzies?

Over on How Do I? Someone just asked the same question.
Some say refrigerate it, some don't...
Is it like trying to figure out what the consistancy of royal icing is supposed to be? (Something I'm ALSO trying to figure out)
That noise you hear is just me banging my head against the wall...

I'd go ahead and keep it in the fridge. My instructor told us to.

Hint: Buy a BLACK paint brush to put it on with; if you ever have a "stray" brush hair come out in your pan--you'll SEE it before it ends up in your cake--then in someone's mouth!

HTH,
--Knox--

I have never made my cake release - I always buy it, but I am sure it is probably the same thing. Anyway, I keep mine in the fridge and set it out to warm to room temp in the morning on the day I am going to bake (which is usually in the morning). I know you usually use less when it is chilled, but I don't want to have to worry about not having used enough. And I just use a paper towel to spread it on the pan - kind of like when I use crisco to grease and flour the pan.

I have been making this for years and have never stored it in the fridge. In warm months it may seperate a little but a quick stir fixes that.

I've also had the same batch for months and have never seen anything growing in it.

If you feel more comfortable keeping it in the fridge then do so, but it doesn't hurt to leave it out either.

Well,TexasSugar if YOU live in Texas and have never had a problem, then I'M not too worried.
Thanks!

Stuck it in the fridge 'cause it was in the way on the counter. Used it to make Donald Duck & the oval for Wilton Class 2 final cake. Worked like a charm!
Thanks to all for your help!