Not sure what you mean by 'mystery product', are you talking about modakboard?
I did find the following on their website....
http://www.modak.com.au/modakboard.html
FRAME Strong, light weight Zinc and Alloy Steel Frame construction (No Timber used).
Benefit: No termite destruction
ROOF Steel roofing in both Corrugated or Steel Tile (looks like normal roofing tiles)
Benefit: No mould, light weight, stronger, modern appearance, hail proof and fire proof.
Steel Benefits: Non-combustible, 100% recyclable, inorganic, less waste and wood, termite proof, high strength.
WALLS, CEILINGS & FLOORS - ModakBoard™ MgO Sheeting
ModakBoard panels are screwed and bonded to the metal form work and forms the construction of the Walls, Ceilings and Floors in differing suitable thickness.
Benefit: Environmentally sound with no toxic chemicals, asbestos, ammonia or formaldehydes.
ModakBoard - The building board of the future
ModakBoard is a newly developed, extensively tested modern building board used in construction. It is made from magnesium oxide (MgO) and a mixture of non organic minerals, bonders and fibre mesh composites. Mg0 contains no formaldehyde, no asbestos and no toxic chemicals.
ModakBoard is similar in price to paper lined plasterboard, but with substantial benefits in low loss and breakage due to the sheer strength of the product, some 8 to 10 times stronger than plasterboard.
When combined with its wet area applications, low moisture absorption levels, resistance to mould and mildew, a DB rating of 47% to 50% , imperviousness to termites and it being virtually 100% fireproof, it results in a very different and substantially more cost effective alternative to plasterboard or timber products.
Tool Requirements
No special tools are required to use Modakboard, it can be sawn, drilled, nailed, screwed and planed just like timber and once in position will have an exceptional life span exceeding that of all homes constructed to date using conventional plasterboard, paper lined plaster, or timber lining methods.
Fire Safety
ModakBoards' remarkable fire resistant quality makes it ideal for Australian conditions in bush fire prone areas... it cannot burn from domestic or bush fires.
ModakBoard has a low toxicity level, contains no asbestos or formaldehyde and no toxic chemicals.
Environmental
MgO is produced in kiln temperatures of approx 650°C compared to cement products which need over 1200°C. The resultant expansion of CO2 emission in cement products is double that of MgO in manufacture. Added to that, during “Carbonation” MgO draws back 90% of the CO2 created, thus ModakBoard produces 90% less pollutant compared to cement based products.
Because ModakBoard is so strong, it will last a lot longer than standard building boards therefore replacement and maintenance do not become an issue. The less you have to replace, the less damage to the environment.
MgO Application
MgO board has been embraced by the building industry in many countries around the world. In Beijing, MgO board was the “official” specified construction material of the 2008 World Olympics buildings. Taiwans tallest structure "Taiwan 101" is lined with MgO materials as are thousands of buildings all over mainland China and the USA.