No, it's not a real thing.
Since its first mention people have been worried about "Palcohol" and what teens will do when they get their hands on it. Brent Rose from Wired experiments with homemade powdered alcohol to prove that those concerns are unfounded and in fact powdered alcohol in most cases is probably more trouble than it's worth.
A company called SceneTap is putting facial recognition software to good use: analyzing the age and gender ratio of bars and clubs, and reporting the data to you through a phone app. It doesn't recognize individual faces or store data, but it will give a ballpark estimate on how many ladies/fellas are around and their approximate age. There are 50 locations in the Chicago area using SceneTap right now, and they have plans to expand.