Tree trunk paint

I plan to use this latex paint on my new fruit trees(apple, pear, apricot, plums, mulberry). Does anyone have experience with this specific product? Is there anything i need to watch out for? Any better products?

That's a good paint but it is also going to cost you more than an exterior latex house paint, the labeling is the only difference and a quart isn't going to cover many trees.

Check the ingredient list and then compare it to any exterior latex house paint, they should be nearly identical if not identical, lots of times companies will label products specifically to attract a certain group of people and the practice usually comes with an increase in price.
I went on a tour of a paint plant once and noticed the "agricultural tree trunk paint" was coming from the same batch as their house paint. The "agri. paint was priced 3 or 4 dollars more per gallon.

Painting a trunk is done to prevent 1) sunburn of the bark, 2)insect control (it allows you to see the bugs crawling up the trunk, not keep them from boring into it), 3) it makes an orchard stand look pretty to passers by.