When it first came out, I did some research. I sent an e-mail to Lucas Oil and asked them for an MSDS sheet on the product. (I believe it's called "Slick Mist")...
I can't seem to find the e-mail I received back from them, but if memory serves me, it was LOADED with silicone oil.
Silicone oil will make your paint VERY slick, but it only last about a day (or rain, whichever comes first)...
Silicone can also have ill effects on the paint.
There are some threads on this topic. See them for more info on silicone impacts on paint.
FWIW... I wouldn't put it on my paint.