It's a fine penetrant. Better than kroil, actually, and a lot cheaper.
No, no its not, if it was they would put it in a can labeled for freeing up rusted parts. ATF is made for automobile transmissions.
I understand cheap though, but do you really want to cheap out on freeing up a rare and valuable Poulan 44??
Another guy here screwed up a hard to find cyl a while back using ATF.......