The Hunt For Big Fish with Larry Dahlberg

Can Any Of The Flex Rubber Be Made Into A Lure Or Not

Yup, sure can. It's tough as nails also. One of our guys, Brad, is making some very cool vertical jigging type musky lures out of it. He molded an actual frozen shad for the master. He's catching tons of muskies on them and they show little or no damage after multiple fish.
I've used the softer stuff, like Flex 40 for roto molding hollow bodied frogs with good success as well. Used flex 80 for whopper plopper tail fin.

If you're making stuff that has thin spots it's important to allow the material to completely cure before de-molding. I also like to heat my molds a bit In the microwave before pouring.
best,
L