Mikal - I tried the same demo with the particles as Elastic and it literally took 10 seconds to create the particle group. Although fun, I don't think it's viable, unfortunately!
newt - yes, in a way. Liquidfun supports different particle types, each of which has its own set of behavior attributes. When testing, there were a couple that didn't seem to be any different to the Water type, so they have been ignored. In LFJS the following particle types are available:
Rigid / Fluid - Rigid particle groups are ones whose shape does not change, even when they collide with other bodies.
Water - Basic particle.
Spring - Spring particles produce the effect of being attached to one another, as by a spring.
Elastic - Elastic particles deform and may also bounce when they collide with rigid bodies.
Viscous - Viscous particles exhibit clinginess or stickiness, like oil.
Powder - Powder particles produce a scattering effect such as you might see with sand or dust.
Tensile - Tensile particles are used to produce the effect of surface tension, or the taut curvature on the surface of a body of liquid.
Pressure - Static pressure particles are subject to compression when pressure acts upon them.
Repulsive - Repulsive particle groups repel each other.
I've yet to add methods to allow you to change some of the attribute parameters, but it's on my TODO list.
I realise that I need to add Color-Mixing to that list as well...