You can wet it to get an eyeliner...just put some on your eyelining brush (probably 266 would work best) and then spritz it with water or Fix+.
As for turning it into a cream eyeshadow, I don't think that is possible. Just try looking for a cream eyeshadow that has the same color and buy that. Somebody might know a way to mix the powder with a cream, but I haven't heard about it before.