It appears to be clear cutting oil (Hercules)... except the Hercules also contains another mineral-based oil. The CAS # for K&N's oil is hard to find.
BTW their aerosole oil contains a mixture of gases and from what I found ONE other component: the oil itself.
It's not a propietary oil at all.
Cas: 64742-52-5
RTECS #: PY8035000
Name: MINERAL OIL, HYDROTREATED (MILD), HEAVY NAPHTHENIC DISTILLATE,
PETROLEUM
That's K&N's filter oil.