I'm no expert but when I've used the shiny Alclad I always used it over Model Master acrylic gloss black. Not sure if it makes a difference here. Three or four light mist coats of the Alclad builds up a mirror like finish, you can see it go down with a chrome like shine, more coats build up the depth of the finish. I have heard too many coats will cause it to dull down to a more aluminum paint finish though.
Not sure what happened to you here, just a few guesses:
Did you shake and mix the Alclad up well?
Did you spray it on really heavy?
Other than maybe being an old bottle going bad I'm not sure what might have happened here. I have no idea why it would come up from rubbing it, that sounds like an issue with the undercoat. I have heard their own gloss black base had issues so I've never used it.