it's called Emulsified Oil and the short answer is no.
if the problem was corrected (new head gasket, etc) then it would be fine to drive for a short distance, just not recommended. I would remove the thermostat, and cycle water through the engine to clear it completely out.
The good news is that you can replace with the Green coolant instead of dexcool

just put a note on the radiator for your mechanic or the quick oil change places.