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Hi wingnuster - I haven't used modge podge or this mix styrofoam before, but I have used undiluted PVA over styrofoam objects before painting them with acrylic or enamel spray cans or nail polish, with no eating away from the solvent. I used 2 coats of PVA to be sure I'd covered everywhere. Modge podge or this version would probably work, but you might need to use more coats to be safe. Hope this helps.