I have a box of the Nyclad 158 grain LSWCHP+P made by Federal. Nyclad was orginally marketed on S&W ammo and it's intended use was to allow very soft lead bullets to be fired without leading the barrel. Allegedly, some of the first Nyclad had so much "cushioning" that it expanded back to original size after exiting the barrel, leaving no lands and grooves imprints on the bullet. As the story goes, the formula was changed to a harder mix; the early rounds were nick-named "hitman's specials," and commanded a premium price. I'm unsure how much of this is truth or urban legend, but I do know that the rounds I have expand reliably out of both a 4 and 2 inch barrel, and leave no residue in the barrel.
I've haven't used any of the current crop of Nyclad, so I can't comment on how well it works, but if Federal is making the new stuff like their older ammo, it should work as advertised.