To be fair, the can does say "pancake and waffle batter", but I'm pretty sure that's just reaching for maximum audience appeal, kinda like throwing a gratuitous shirtless scenes in Jason Statham movies. It's a little something to keep the tagalongs happy while we enjoy things for the right reasons.
I don't think you really can. It's all pre-mixed, so you just squirt and cook. That's really what prevented me from picking it up when I've seen it before.
If I'm reading the nutrition facts right, about three 4-inch pancakes have 3 grams of protein, 23 grams of carbs, 2 grams of fiber, and almost no fat (hmmm... where'd the eggs go?)
It doesn't really win me over, except maybe for an uber-lazy a Saturday morning.