I used some of that same material, but I placed it behind the sheetrock when building the room. Actually, it's attached to the back of the studs and there's foam between it and the wallboard. I didn't have to worry about making it pretty, but is that location effective at all? My actual objective was trying to keep from disturbing my neighbors and I can enjoy rather substantial bass without complaint, so I accomplished that goal.
I need more trapping - I know. This is the most challenging part of an audio system to get right because the damn room is so influential.