Yes, and Yes. Of course, it depends on your sense of smell and tolerance for smells. But the TSC stuff I bought had a definite smell. Not so bothersome on socks, perhaps, but I wouldn't want it on my t-shirt ... or my hammock ... as I tried to sleep at night.
Just my experience. YMMV. I learned to purchase the stuff for in-home use. It almost is "odorless" as the label says.
It does have a little smell to it, but you could treat your clothes and wait a day and then wash then once should take care of the odor and still be affective