I am not a painter, and don't know squat about it, but something I always do when looking into new 'stuff", is to go to the website and read the reviews. Here's one from the Liquitex site (and most of them talked about cracking):
Comments about Liquitex Modeling Pastes:
"I've used Golden and Liquitex modeling paste since they came on the market. Liquitex versions dry faster than Golden and are not as flexible when totally dry, they are more like drywall mud and less plastic. However, this has it's uses and sometimes it is a better paste for that reason. It does crack a bit when used over 1/8 inch thick and it is better for solid supports rather than canvas. A bit more crumbly than Golden's version, be more careful when carving or sanding. Also, use a mask when sanding, the dust is toxic."
http://www.dickblick.com/products/liquitex-modeling-pastes/#reviews