Bob,
I have been wanting for years to add this caveat to the video I have on youtube on the McNaughton system. I have been doing this for years and it does slick the wall to help with chip ejection. It also does not do anything to the wood as far as the finishing. I spray it as the bowl is turning and the tool is in the kerf. It does not gum up or have a chance to penetrate the wood to cause finishing issues. I am glad you posted this since it also helps cool the blade. As we know when steel gets hot it expands and the DW40 helps cool the blade therefore assisting in the advancement of the tool. I am typing this before I watch the video. I will now go back and see how you are spraying it to see if you do it similarly.