I couldn't tell you what color it was, it looked black/gray to me. All I know is there was WAY too much around the oil pan gasket. This the only area I found it on so I would say judging from the damage, I'd stay away from it. I don't really use any sealer on my gaskets as they already have it built into the gaskets. I only put a dab on the top of the timing cover where it meets the block (Per FSM). I never have ANY oil leaks on anything.

I wasn't trying to poke a stick in anyones eye - just trying to show what it can really cost by using an excess amount of this crap on your engine 

I'm doing two 22RE's at the same time right know - I post a build up on their progress for people to read. It's going to be slow as right now I'm FINALLY  installing my Bullet Marlin crawler    into "Bender" and this project take priority over the engines.