I've been wanting to try this for weeks and finally remembered to pick some up at the grocery store:
Basically pasty flour is a more finely ground whole wheat flour. It works well in pizza dough, and I used it in the muffins from yesterday. It still doesn't have as much gluten (what allows flour to work with yeast to make the dough airy and puffy) as white flour, so it is more "dense" in a bread or dough than white flour. However, it's just as nutritious as regular whole wheat dough, but looks more like white flour, which could be a bonus for those with kids that like things plain Jane white.
I give it two thumbs up,