But in general, it is not a 'fraction'.
i agree, it's not a fraction
but for the sake of high school maths - it helps with simple arithmetic to say that it's a fraction
there's an example here on AN about the two ways you can approach the substitution
the dx = ......du way and the du/dx = .... and we try to find something indicative of that in the integrand and sub the whole du/dx in
and the dx = .....du way was shown to be far quicker (important in an exam i guess)
but unless you're really going to do maths or physics in uni
anything to do with partial derivatives - ie. lagrangian mechanics for the physics kids
it won't hurt to say dy/dx behaves like a fraction
well, a better way to look at it is examining what a differential is, and the shortcomings of different notations.
What is not taught in the classroom is that

and

are not part of the derivative. In this sense, these are non-standard interpretation of a first order derivative, especially considering the second order interpretation does not exist. i.e.

has the interpretation of the quotient of two infinitesimals. where as the second derivative

does not have a similar interpretation. Non-standard analysis (the mathematics of infinitesimal quantities) formulates the concept of infinitesimals via an important axiom. Using Liebniz's notation,

, or using Lagrange's notation,

. That is, we relate the exact differential

to an infinitesimal quantity

via the derivative.
This is the problem with notation. Because

appears both as a differential, as well as part of Liebniz's notation, people can confuse the two together and treat the derivative as a fraction. A better way to think of Liebniz'z notation is to always think of it as a differential operator. I.e.
)
. In this sense, it is just a special operation, like sin, cos and log. Euler's notation

, where

achieves the same thing, and is used in higher level mathematics. The best apprach to understanding differentials is to use Lagrange's notation,

, this eliminates any ambiguities.
Note that

in the integral is a
differential, and it is defined from the exact differential relationship

.
This allow us to do many things, such as u-substitution and separation of variables, but we
NEVER split up the fraction. Whenever we do this, we have actually introduced new differentials. Pay close attention to the following example:
Solve

.
What you think you are doing:
, splitting up the fraction,

, thus
What actually happened, and the steps that you've skipped:
. Given the exact differential relationship

, we substitute the derivative. Thus

, thus

The difference is subtle, but it's there. And it keeps the world going around. Obviously in VCE you don't need to be this rigorous, but a proper understanding is crucial at the university level, as equations are no longer in terms of one variable, and the definition of a differential is required so you don't accidentally miss a whole variable.