The primary reason that I suspect he used MW is that it contains a yeast inhibitor (potassium sorbate), which seems to keep the yeast from turning the coleslaw into sauerkrautslaw. The Colonel probably didn't understand this, but knew the results were much better.
I've made coleslaw both ways (mayo and MW) and I do think the MW keeps the slaw crunchier.
It contains less oil in it than mayo. Corn starch is used to achieve this.
heres a reddit link: https://www.reddit.com/r/food/comments/mq5ty/original_kfc_re...
Maybe it is the secret ingredient to a perfect cole slaw? More sweet and more mustard. I would really like to try, but I need to find an import shop for this magic paste!
It's only purpose in my life is precisely that: coleslaw.
It's definitely not just "mayo but with sugar and mustard."