I've heard it called Owl Grease,or Owl something else too.
I have used 105/601 in every way. I've mixed them on the car,on the pad,and together in a bottle. The last time I used the combo I did them together on the hood. The combo worked awesome this time. I shook both bottles longer than I ever have too. I was having trouble with 105 not seeming to last as long as it should,but boy it has really worked this time. We've had a lot of rain,and the hood and fenders are beading like a champ. The rain here usually hammers the top surfaces,but not this time.
I bought some DG Fast Clean and Shine spray,and boy it helps with the appearance and slickness of just about anything. Of course it works well the 105/601 too. You should pick up some of this stuff if you haven't. It helps with the beading too. It's just almost as good as Aquawax IMO. You won't find a better detail spray for the price.