Its not Peroxide...   Its Chlorine Dioxide.  Your getting the awesome oxidation properties of bleach with out the color robbing effects.   (it will also kill anthrax!)   Its the same product as the Anti Allergen Deoderizer but with a pleasent citrus scent.  If you use a strong dose of it in the anti allergen form,  you can smell the chlorine.  Its super effective on organic materials.   We love it for deoderizing urine soaked leather.    It can still bleach if its too strong so do be sure to observe the dilution ratio for nylon/wool/ cotton.. etc.