There likely isn't any real savings to be attained by making your own, even if you had a perfect formula. These rods are a commercial product, available at many hardware retailers and welding suppliers here in the US. Patching old roof flashing, for example, isn't really a good way to repair a leaking roof IMO, but I suppose some would feel a great sense of accomplishment from doing something like that.
The real value is in being able to repair non-ferrous parts instead of buying new parts if/when they're still available. Obviously there isn't much value in repairing mum's pie pans with these rods, but real savings can be realized by repairing machine parts or various fittings which would require parts searches and ordering, or custom assemblies which aren't commonly available.
I've saved many hundreds of dollars worth of aluminum parts with these types of rods, having started using them about 30 years ago.
I've also been able to fabricate a lot of items with stock aluminum shapes which would have needed to have been riveted or screwed together with fasteners. Very handy stuff for fabricating outdoor or boat hardware items.
Some holes can be patched with plastic/epoxy products, but the fix is often inferior to actually making a metal repair.
I've found MAPP gas and a MAPP torch (not an ordinary propane torch) to be much more effective for using these types of rods, since aluminum can dissipate heat fairly rapidly. Actual use requires proper shaping and cleaning of the joint, heating to the correct range, and using a stirring/scratching motion of the rod to keep the oxides afloat and maintaining the proper heat range while adding more rod to fill any voids.. scratching the rod into the workpiece material to attain an alloying of the rod with the workpiece.
I dunno what Doug's seen, but I've never seen the rods with flux core.