I would only use it for vent sealing, and possibly preventive maintenance.
It also appears to come in white. BTW, I was told recently that a fiberglass roof should last for 50-60 years! One thing though, I am not sure if it could be easily used around a round vent without cutting which would defeat the purpose. I am not sure what the frequency of caulking is around the Escape. I am sure it varies because of elemental exposure, but other than visual inspection, is there a general "rule of thumb"?