I see some resistance by the plumbing contractors on initial installs. With your system, they have to mix the epoxy or whatever and wait for it to set up. All epoxy takes time to reach it's full hardness. The bottles may read 5 Minute but what that really means is that is is hard enough for handling in 5 minutes but it still takes 24 hours to reach full hardness. If you bump the horn around installing the toilet, it will pop off and the plumber has to start again. I would like to see some testing on how the glue will stick to the plastic and porcelin also, even after it has cured.
Even it that point is covered, there is still more time for the install. And there is more cost for the system than a wax ring. The last one I bought at a plumber's price was $.80. The contractor will put money into the visible part if he is being paid for it. He will not spend any more than necessary for what you don't see. It's even worse on tract housing. He is going to go with the lowest priced stuff he can find. If you don't get the product in on the initial install, the homeowner is never going to change it.
I have no idea how the codes read to know if this is legal. Getting a code changed takes a lot of money and then you have to call on the building inspectors for every municipality to be sure that they recognize that this is a legal product and will allow it in their area. This may take a lot of lunches and maybe a little out-of-pocket cash. Can you charge a high enough price to cover it?
How are you going to advertize and get it into the distributors stocks? Distributors tend to stock what they sell and sell what they stock. If you want to have any chance, you will have to contact a bunch of sales rep agencies, sell them on the product and then give them a reason to push your products when they call on the wholesalers. The best way to get interest then would be to offer P-O-P displays to every wholesalers location. This too will be costly but there will be some interest while the plumber is standing at the counter waiting for his stuff to come from the back is he has something to look at during the wait. We all see so much printed info that it really has to be striking to draw much attention. If you just print flyers, it will be put into literature racks along with those for 100 other products.
These are some of the issues that I see. It is not enough just to offer a better product, you also have to market it effectively if you expect people to buy it.