Sounds like a wax, albeit a very weak one when it comes to durability. Here's a description:
"Finally, a clear wax you can use in direct sunlight! Turtle Wax Ice Liquid Polish features an innovative new technology that blends silicone and organic polymers to provide extraordinary shine and durability to your car's finish. Water clear formula can also be applied to all exterior rubber, plastic and vinyl trim to restore color and shine without leaving white residue."
I really don't believe it's a polish. A polish, if you've read on these forums, almost always needs to be worked in for 2-5 minutes per panel to remove swirls and such. The description says nothing about removing swirl marks or cleaning the surface. It says it provides shine and durability (which we've seen is not the case). On the directions, does it say "work product for 2-5 minutes using a rotary or a random orbital"? I don't believe it will.
For OTC products, I'd probably move to another lineup. If you're looking for OTC, I'd recommend Duragloss products (105 and Aquawax). That is an OTC product that provides amazing looks and very durable protection (4-5 months at least).
If you are looking for a real polish, look into Optimum, Menzerna, Poorboys, Meguiars, etc.
edit: One more thing--you mentioned that ICE was hard to remove. From what I've heard, it should be quite easy to remove. Try applying thinner coats of wax, thin to the point where it's barely visible, and is only visible at certain angles with the sun shining. That will give you a thin layer that can be removed easily. Good luck!