I would say no...it smells like talcum powder or a clean laundry smell to me...very faint and quite pleasant.
Yes, mine will dry out if I use a hot scuttle and take a while shaving. I just add a little water back to it and lather it up again. If you're talking about the puck itself, mine dries out but doesn't crack unless I leave lather on top of it between shaves, then the left over lather on top cracks when everything dries up. I don't fall in love with soaps and creams and such, but this stuff is awesome.