Originally posted by: Mark R
It's basically a liquid metal alloy (mainly gallium).
You apply it to metal heatsinks/heat spreaders. It works by basically dissolving the metal from the CPU and from the heatsink. After a few hours it then sets rock hard - essentially producing a cold, permanent weld between the heatsink and the CPU.
This has very good cooling performance, because you've got pure solid metal between the CPU and the heatsink.
Normal heatsink compound (even AS5) is actually quite a good insulator, it's just that it's not as good an insulator as air - that's why you're only supposed to use the tiniest amount needed (replace the air with grease, but don't actually separate the heatsink from the CPU with it).
The main problem with the liquid metal material - is that it dissolves metals. It will severely corrode any metal it comes into contact with (especially aluminium), including solder joints on the CPU and motherboard. The other problem is that it sets solid (the pure alloy is liquid, but as it dissolves copper, the melting point gets higher and higher, until it solidifies) - this may make it very difficult, or impossible to remove the heatsink from teh CPU.