YES!!! I had this game as a kid!! If I remember correctly, they used to sell 'Slime' separately as a toy similiar to silly putty. It was messy but you could still clean it up and reuse it even after sliming the playing pieces. This sure brings back some fond childhood memories!
Yes, because game designers have learned a lot since then.
My feeling is that the use of slime in a boardgame is an unexplored mechanic that will likely see a major comeback sometime over the next 20 years. This game was truly ahead of its time.