No, UL will not recommend because of the various applications by the end-user.
Liquid tape is a brush on application that allows you to brush on each application and makes it easy to apply the tape in tight or enclosed spaces. Whereas the spray liquid tape is a spray that needs to be applied in an open area or a place that has good ventilation. Both products do the same thing and that is to form an electrical tape that is more of a coating or seal.
Yes, Liquid Tape is flammable but ONLY in its liquid state! Another one of our posts mentions drying and curing time. This and one other thing is very important and that is inspecting the connection you are about to use the Liquid Tape product on. A small short, friction, or heat in the cable can cause a fire if the tape has not been given the full amount of time to dry and cure. Remember, if the tape is not fully dried it is still flammable.