It must work. I've never heard a squeaky frog.
The only lube/protective product I've ever had fail (assuming routine use) was WD-40. Shotgun rusted up in the midst of an afternoon pheasant hunt (After being applied the evening before). Never used it again. Dug out some guns stored over 20 years with no more than a light wipedown with Outers gun oil and nary a speck of rust.