I don't believe it can be applied directly to the spray foam.

From the technical data sheet:
For interior use on primed or previously painted wood, drywall,
cellulose tile, cured plaster, masonry, and metal.

A premium quality, decorative, intumescent, fire retardant paint
for interior ceilings, walls, and trim.
This product provides a high hiding matte finish that retards flame
spread by reacting to heat and forming a thick cellular char
blanket (intumescence). Suitable for primed or previously painted
wood, drywall, cellulose tile, cured plaster, masonry and metal.

The full TDS can be found here:
http://www.myperfectcolor.com/repositories/images/assets/tds_p59en.pdf