I have to admit this is a lot more glowy than I expected an item made from this stuff would be. Crittendawg was also kind enough to share a few thoughts on my original post about what she thought of working with this stuff. Just in case you don't feel like clicking back and searching through the comments, I'll save you the trouble by reprinting her thoughts here:
I have tried out the Bernat yarn, it's not bad. The texture isn't that great but hey, it is glow in the dark! It gets stuck sometimes on the hook and isn't as flexible as other yarns but by no means is it impossible to work with. I love Bernat Berella 4 for amis because it is easy to work with, but this one feels more like Caron's Simply Soft.. it feels a little weird.
I made a couple things that I put on my flickr page with it, and here is a link to a photo of a star I made, glowing - http://www.flickr.com/photos/alyssacritt/2893589965/
So anyway I agree with you that it is good for amigurumi and other small things because it is pretty expensive. Also I'd like to point out that only one strand (I think) actually glows, so you get an interesting glowing texture after you crochet with it. Let me know if you've got any other questions?