No rez is not a good bass absorber for a couple of reasons. The foam layer is not dense enough to work as a thin panel absorber. Likewise, while the foam layer is about as dense as say fluffy pink fiberglass, it is not thick enough to be as effective. Lastly no rez is expensive even when compared to expensive varieties of Owens Corning 702, 703 etc.
But maybe you mean using it to make something like this?
http://www.gikacoustics.com/gik_scopus_tuned_traps.htmlI think the damping layer is probably flexible and stretchy for that application. You would have to pull it really tight to get it to resonate and then you would have to test it to see what frequency it resonates at because the trap would only be effective at that frequency. Also note that the absorption layer should not touch the membrane, so you would have to strip the foam layer away from the damping layer.
However, no rez when used as directed on speaker cabinets will have a profound affect on bass quality.