If you add a block for it and implement some way to drink it I'll DL (I don't care what it does to my body, I just want to swim in and drink UUM. Delicious, delicious UUM).
Also, I rather like the idea of UUM being used to duplicate rather than create. Perhaps the entire UUM system should be redesigned in this spirit (craft 1 iron ore with 5 UUM to get 3)? Refresh my memory, is it possible to specify stack size of ingredients in a crafting recipe?