Question about anchor seal

The AnchoeSeal I've used has been about the consistency of latex paint. You might want to give U C Coatings a call and see what they say. They are locate in Buffalo, NY. I've been to their manufacturing plant and they are good people to deal with. Their toll free number is:

US/CN Toll Free: 1-888-363-2628

It is a wax emulsion. The wax is held in suspension in water by the addition of surfactants, which make the water less ionic.

The GIs here recognize the stuff. They spread a lot of it onto floors, buffing afterward.

Only time you should see actual separation would be if it had become cold, though you'll notice the alcohol smell, which should lower the freezing point.

If it were my container of A/S I'd return it. It should be a milky white, heavy cream consistency - or as Jack Novak said, latex paint-like. The stuff brushes on very easily and is definitely not so thick that it won't create runs.

Sounds like the water has evaporated and may be old or was just in a poorly sealed container. Having no experience adding water to it, follow Jack's advice and call A/S or return it for a replacement.