I can't imagine a practical application, other than the stated potential for "self-healing electronics", or the morphing antenna. It seems to me that any application of external contact would totally disrupt the surface tension and alter and/or destroy the intended configuration, notwithstanding the relatively high surface tension of the substance when undisturbed sans voltage. So the T-2 Bad-Cop doesn't seem anywhere within the realm of reality.
And the voltage that makes the substance "morph" reduces surface tension rather than increasing it. That makes it seem like it would be less useful when the catalyst voltage is applied. In other words, its usefulness would primarily be in its ability to change configuration; less so during the transformation period.
And since any application using the substance as a conductor would reduce the surface tension whenever voltage is applied (requiring constant directional control), it seems like that would render the substance less efficient than regular old wire.
But whaddoIknow? That's just some practical observations made with no knowledge whatsoever of the science. It's still cool.