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Am actually kind of ticked off that our local K-Sears no longer carries the product. There are times one wants to use a more gentle oxygen bleach, and liquid hydrogen peroxide fits the bill. You see such versions contain none of the scents, OBAs, bluing agents, and god only knows what else found in say Clorox II liquid bleach, or even Tide "Stain Release liquid".
You can take wash temps up to say 120F on colourfast items, but remember for about each ten degree increase the bleaching power goes up by something like 30% or so. Therefore while any oxygen bleach may not damage colours or darks in warm water (100F or so), it may be a different story at temps above 120F. Mind you it may take repeated washings under such conditions to cause such damage, or it can happen at once.
You can use this sort of bleach for pre-treating stains (blood, wine, etc), but do *NOT* allow the product to dry on fabric. Best to apply the peroxide bleach, wait a hot minute, then chuck into the wash.