Analog psychedelicss are illegal more or less no matter what under the federal analog act.
I don't know much about the laws in the US, but doesn't the analog act only apply if the substance is intended for human consumption?
^I bet that if you got caught with this substance, you would still be arrested and tried. If you get caught with psychedelic powders or potions, you're likely to get locked up -- they'll deal with specifics when you get to court, in which you'll have to hire an attorney and probably some expert witnesses in order to get off. This is, of course, just conjecture; but I doubt the cops would be like "ohhh its just LSM-775 you're free to go, sir".
^ A short-acting version of LSD sounds very interesting to me, I have always found the LSD experience to be a tad long-winded. If it has the same psychedelic potential as LSD (even if it's less potent), it would be a definite winner in my book.