it`s wonderful :)

Ovalette can be used in any baked products that require egg whites for it's lift. Ovalette helps the "structure" of the whites to set fast on the lift/rise and adds lightness to the finished product. Any brand stabilizer will do the same thing

Having said that, I found that condensed milk is a great substitute. Taken from http://www.thelittleteochew.com/2009/09/what-is-ovalette.html