Cheap price, quick shipping, but mediocre results. About as good as other budget diffusing fabric-based products on amazon.
Yes, it diffuses light. Does it do it particularly well? no. I needed to run two layers a few inches apart to get results I'm satisfied with. The diffusing plastic I pulled out of some old laptop displays is significantly better.
I didn't notice any white balance issues, thankfully.
Side note, I needed to run my lights at higher brightness to retain the brightness levels I was looking for. This is to be expected, but something to consider.