My friend that uses it says that it catalyzes. If he is correct, I'd consider that to be a drying oil. One thing he said, if I understood and remember correctly, was that the one way he found to screw it up was to put it on too heavy and then not buff off the excess allowing it to catalyze with excess on the surface.
He also said he sands to finer grits than he does with other finishes, not skipping any steps and sanding to the level of matt or gloss he wanted the finish to be
FWIW the one and only little piece I did with Odie's was sanded to 600 grit and had one application of oil. It looks really nice. It doesn't have a gloss, but brings out all the figure and color of the wood. It looks like someone spent a lot of time lovingly rubbing oil into it, when I actually spent a few seconds rubbing oil in and a few more buffing it off.
I will be getting some in stock and testing it out to see if it suits my needs, but i am optimistic based on first impressions. I may follow up with more impressions when i actually have some real experience with it.