I have never done that. I'm trying to remember the protein % of the high protein RCs and the price. Just can't say how it would be as feed. It will fertilize the pond even if the CC weren't to eat a lot of it. I do know that sinking feeds often are not completely consumed by catfish.
Catfish feed is pretty affordable and can be purchase at around $18/40 lbs for 32% feed. This equates to $1.40/lb. protein. The RCs would have to be a lot cheaper than that on a protein basis before I would consider testing it. To be safe I would personally stick with feed formulated for CC. But if you do it let us know and your results.