Just wanted to update that I tried the butter flavoring in oatmeal. I added it after taking it off the fire. I'm not sure I could really taste "butter" in the oatmeal, but it sure gave off a lovely aroma and that helped. I also added some Splenda/brown sugar to it and it tasted really good.
Let me know if anyone else has used this in another way. (The package suggested using it in cornbread muffins.)