That's awesome... we could clean a guitar OR a grill with it! I am in the same boat with some old polish. I have an old bottle of Atheras polish, and the stuff works miracles, but I have no idea what it contains. From what I understand, silicone doesn't cause any damage, but if you need to do a finish repair, it causes problems with that. It is hard to rid a surface of silicone. I guess that's why it does such a nice job of blending scratches.
While we are on the topic here's a few other tidbits.
Don't use polish on a matte finish guitar unless you want it to look different. I saw a guitar where someone had used polish on one and it was real shiny in spots. The poor guy or gal probably thought they were gonna get that guitar looking like new.
For years I have used a little lemon oil on my fingerboards. Martin's website said that it shouldn't be done as it can react with the lacquer. I never had a problem, but I guess I'll listen to 'em since they made the thing.