Result of like literally 100+ hours of investigating wtf it does not work properly [spoiler]texturing[/spoiler]

Only usable by those who have some IQ and able to click buttons to see what would happen.

Quick guide: basically needed setting for you is red_underline :) After spawning particle hit instance particle system to make able change its values

render_blobs tab:

• cube_width - PARTICLE RESOLUTION [HIGH PERFORMANCE HIT] u can make
            particles looks like a cube, ir like a blobs. Number depends mostly
            from cutoff_radius
 • cutoff_radius - size of the particles
 • render_radius - is kinda radius from where particles make mesh
            bridges between (in short works like metaballs)

Emit_continuously tab:

• emission_time - How much sec it would spawn particles. Also
        depents from "TIME_SCALE" so if u set particle time scale to 0.5 it
        would emit particles for 6 sec.
 • emission_rate - emission per second. Maximum 5000 emitted
        particles, if u want more just add another particle system.  PS u
        can disable it and add emit noise and set for example emission max
        to 200 and emission min to -400 to make particles spawn time-to-time

Lifetime Random tab:

• lifetime_minmax - basically how much time particles live.

Velocity_noise tab:

• output minmax - Particle initial speed. Simply setting to make
        paticles looks like liquid, but also can be useful in many times.

Position where sphere random:

• Distance minmax - Size of a virtual sphere from which particles
        being born (for better visual)

Color intencity:

• materials\Barbell2\LiquidFX\Cum V2\CumBlobs.vmt 	$envmaptint     "[1 1 1]"

Some troubleshooting:

• On some cases when particles have big distance between them (because
    sfm calculate their location only on frames) theres setting on main
    properties called "Maximum time step", should be set to 0.001 (other
    numbers seems do 0 effect) to force SFM process substeps. Has pretty
    performance hit.

I didnt bother myself to make it suitable for every scene so in most cases u need to tweak it.

On particle setting better to set lifetime and duration for big times (so they not disappear from default 5 sec and not affect emission) and timescale looks best from 0.4 to 0.6.

Theres also things on particle names like plane or velocity. It adds more control points: plane is a virtual "FLOOR" to collide.

Velocity is a particles with CP at which particles would fly. Also as far this CP from emitter - more initial speed particles would have. The power of speed can be adjusted from "Velocity set from control point -> velocity scale" setting.

v1.1 added some THIN particle for those who cant