I would say it depends on where you're applying it. If you mean to use it to smooth color over the eye...I still would not. I know that silica and the other ingredients are made to keep colors in place. Maybe someone added it above their eye and then put on HD translucent powder by MUFE. After that, they may have followed with a shadow. I, personally, have not heard of this. I know that most liquid foundation, on its own, doesn't have the ability to keep lines from forming. If anything you might try a BB cream. I hope this helps.
I agree that an actual eyeshadow primer works best, particularly if you are wearing dark, bolder, or brighter shades. Even just wearing no shadow, if I have foundation on my lids they still tend to crease. And eyeshadow primer actually helps to make your makeup look better and pick up the best qualities of the shadow.
I like the Urban Decay Primer Potion since it is a nude shade with no real coloring, but the Smashbox primer is a close 2nd!