ASomeone had given me a bottle of Lorann, princess cake and cookie emulsion. I've never used it before and I'm not sure how it works. She said it helps shelf life and helps contain moisture. Has anyone used it in the basic cupcake flavors? What are the effects in cupcakes, how should I use it, and what flavor should be used in vanilla and chocolate cupcakes?

I have used this emulsion recently and I just use it to replace my vanilla extract.  I don't know a whole lot about it but from what I understand, you can replace 1 teaspoon vanilla for 1 teaspoon emulsion.  I have used it in my white cakes and it tastes really good.  To me, it's not a huge difference than regular vanilla extract but that's just me.  Others might feel differently about the taste.