I don't think I have ever used this. Natural fox and coyote are readily avaliable and inexpensive. Natural materials are almost always more natural in the water than synthetics. Wooly Buggers are traditionally tied with marabou for the tail, but you can certainly experiment with other materials, both natural and synthetic.
With this said, tie up a basic bugger with the materials you have and test it in a bath tub or local creek or pond. You might find it has nice movement and works fine. If you have a supply of faux fox, you might as well use it.