I had one of these kits once upon a time. However, the "snow" wasn't made of asbestos but some sort of creamy stuff that kinda looked like cottage cheese. In fact, maybe that's what it was hahaha!
Usually any time something from that era says it's "fireproof" usually guaranteed to be asbestos - that was all they knew that was fire resistant back then.
Flocking seems to have been a mainly USA-related custom?
I'd never heard of it before.
I suppose Australia would have needed it, with their Christmas in the middle of a summer heatwave!