Quick Google search reveals it is a new product from Dimension Polyant:
"Formulon Spinnaker Nylon
DIMENSION-POLYANT has developed this new spinnaker line based on the combination of unique woven substrates and new coating technologies. The Formulon line utilizes our exclusive Formulon coatings to create super low stretch spinnaker fabric with superior bias control to prevent distortion and accompanying shrinkage under load. This double coating is applied to substrates with "paired" ripstops allowing the firm finish to work without reducing tear and breaking strength. Formulon spinnaker material exhibits performance that lasts combined with the durability to work in modern asymmetrical applications."
Most spinnaker is quite stiff and noisy. It may be that this is necessary to reduce stretch, which appears from the product description to be the manufacturer's goal.
For a tent, not so good. As Gerry pointed out, stretch absorbs shock that might otherwise cause fabric failure.
Most low denier nylon fabric will sag with changes in temperature and humidity.
Just because the fabric will not stretch does not necessarily mean it will not sag. Obtain some samples at least a foot square, and stretch them taut in 9" plastic embroidery hoops. Put the hoops outside overnight, and check occasionally. See if the fabric loses its tautness and sags in the hoop. If it is nylon, I bet it does; but maybe they have figured out a way to prevent it.
Many spinnakers do not have the level of water resistance that we need for protection from lengthy rainstorms. Secure the hoop over a small weighted pail, like a bait bucket, put it under a focused shower nozzle, and let 'er rip. I prefer to use a natural rain storm, of which we get some humdingers here at the foot of Mt. Chocorua in NH; but it is winter in most of the continental US, and I imagine, Southeast Alaska.
If you can live with the stiffness and noise, are willing to give up the benefits of elasticity in the fabric, and discover that it has high water resistance and does not sag much, then maybe this fabric might be OK for your next shelter. Many are OK with the spinnaker used in the GG One; but I understand the makers looked long and hard to find a spinnaker with the desired water resistance.