I've never heard of that one, Tanya. Searching on Google only brings up an article saying that, basically, it works. No mixing instructions, though. I wonder if it's similar to Daconil, given that the first parts of the words are the same? You might try a test with it on a plant that wasn't expensive by mixing up one tablespoon of the powder to 1 gallon of water and seeing how it does.
As far as the sphag and bag method goes, do a search on here for "sphag and bag." There have been several threads posted on how to go about it.