I have got some Fray Stop but only use it for buttonholes before cutting them through. I would think that it would be a bit of a faff to go round every cut edge with the little nozzle! If the fabric I am using is particularly prone to fraying, I use a zig-zag stitch to finish the (trimmed) seams either together and pressed to one side or individually and pressed open.
I did make a coat using boucle fabric once, and finished all the edges with zig-zag stitch and an overlocker presser foot ( I don't have an overlocker machine) after I had cut them out and before sewing anything together. That seemed to work well.