3. It is used in the formulation of colloidal dispersions, suspensions, emulsions, and ointment. 4. Colloid mill is used for grinding, dispersing and homogenizing of ointment, cream, gels, and high viscous fluids in one operation. Advantages of Colloid Mills. 1. It has a wide range of use including comminution of slurry- fluid materials. 2.