|My can looks like this. It's probably like 3 years old.|
Flavor: It's kind of a general sweet, slight red popsicle-tasting flavor but with a bit of a minty? aftertaste. I guess that's the "frost" part. The can claims it's a "unique chilling ingredient." It's probably antifreeze. You know, I saw on a crime show that so many people were easily poisoned by antifreeze because it was naturally super-sweet, that many states are requiring bitter-tasting additives in order to make antifreeze poisoning attempts easier to detect. You can read about it here.
Effectiveness: I'm definitely feeling it. I am currently explaining to my students why calling undocumented border crossers "illegals" is offensive and grammatically incorrect and working on some advice with the Sexy Gay Jesus. I'm a little bit hyped-feeling and more fidgety than usual. I'm not sure what the multiple stages are supposed to be, but it continues to be effective. The flavor isn't too strong, so it doesn't get gross while it warms up as the can sits out, but it is still kind of strange. Reminds me of those fruity/minty gums that are kind of good but also slightly unsettling.
I'd call this a slightly odd but cheap and effective product. Recommended.
Haha, look at this terrible video from the Slap website where they try to turn their drink name into sexual innuendo (unsuccessfully, I would say):