If this is the LUCAS diesel and gasoline fuel additive, I have used it in both types of motors.
My old Chrysler ('71 383-powered) was tuned tighter than a snare drum for in-town throttle response and highway economy. It was also fuel quality sensitive, not just octane.
I preferred FUEL POWER any day, but the LUCAS helped in avoiding pinging. Just not quite as well as FP-60 or PRI-G.
As to ATF as an upper cylinder lube, I've certainly done it, but don't recall posting on it (that would have been around 15-20 years ago in V8 engines being asked to run at 2,800-plus rpm for several hours. Pre-1975 engines w/o fully hardened valve seats.) I couldn't say if it helped or not but had no problems afterwards.