Ahhh, no it doesn't, I have it in my pots as I type this and yes it is "baked" calcined clay
Google is your friend
Industrial clay mineral aggregates have been investigated with encouraging results. Calcined clays (
like those used in cat litter) retain nutrients, encourage drainage, and enhance airspace while stabilizing pH. Clay is the product of extreme weathering that has broken large mineral rock structures down to particles less than 0.002 millimeters in diameter. Due to its large surface area and nutrient holding properties, clay is ideal for controlling nutrient leaching from pots and retaining water.
Research findings have shown that calcined clay usage in an 8:1 pine bark to clay mix can give the following benefits:
- Reduction of irrigation by 200,000 ga/acre in a season
- Increased available water for plants by 4%
- Plants with calcined clay remained turgid 48 hours longer than plants without calcined clay
- Container substrates contained 100% more phosphorus
- Reduced phosphorous leaching by 60%
- Some clay lots serve as fertilizers themselves by providing calcium and/or phosphorous
- Containers are 20% lighter
The use of calcined clay in potting mixes has been shown to reduce water and nutrient loss. It serves as a form of slow release fertilizer while reducing environmental impacts of highly nutrified runoff water.
From here,
http://www.clemson.edu/extension/horticulture/nursery/container_substrates1/alternative_substrates.html