I know it sounds plausible, but I've never seen one. Show me: http://www.rei.com/search?query=shovel&button.x=0&bu...
For some reason olive oil in spray bottles is known as "Portuguese sunblock".
Though I did think the part where the guy used it as a shield seemed to be the least optimal for the situation at hand. Seems he could have used the blade more effectively, but then that would have made the scene a little less palatable for an infomercial.