I've been to Ambergris Key in Belize, looked for whale shit on the beaches, but alas, there was none. BTW, the Belizeans pronounce it differently than I did before the trip, they say am-BURR-giss. Never seen or heard about it in Montreal.
You may have better luck speaking with someone in the perfume industry rather than on a food board. Johnnyboy's essentially right - it's waxy goo that sperm whales regurgitate though smaller lumps go the intestinal route.