Okay, so Emulsifier works similarly to a real emulsfier-
It will cause two different liquids to follow each particle, therefore 'bonding' them, and allowing them to mix.
The uses of such an element would be creating custom rocket fuels, mixing liquids of differing densities together, or in the case of two reactive liquids (LRBD and Water) it could potentially speed up the reaction.
Of course it would have it's own routes to being destroyed, likely through fire or high heat.
Tell me what you think.

correct in most cases. I'm not so sure about mixing up the previous saves, but who knows?
And yes, I do suppose It wouldn't be the most space-efficient thing.

liquids of different densities seperate out- which is why emulsifiers are used- to 'bond' oil and water.
Or in this case any two liquids.