I have the Ducati race replicas with the Cagiva Elefant on the back but they're Texport, those Dainese ones are so rare now!
The Rothmans ones are nice too, are they both "Lawson" replicas?
I've just gone and done mine recently, i use shampoo (the stuff you wash your hair with) and a car wash mitt to clean them, then i chamois them off. After that i treat them with this stuff
If i wipe it on and let them hang for a few days most of it gets absorbed and there's very little to buff off, leaves them buttery soft and they don't mark up as easily.
I've not heard of that stuff but the bees wax content seems interesting. The Dainese treatments from the 80's had avocado and olive oil mentioned, and it was waxy too - guess that is part of the reason they have lasted so long.
I don't think the Lexol conditioner has any wax in it, doesn't feel like it. Washing your hands afterwards feels more like a greased pig competition but it foams up quick and leaves you with very soft hands. Unfortunately this undid years of toughening up my fingers for guitar playing.
With the climate I ride in I don't need wax waterproofing but UV protection and fatty nutrients to keep the leather from cracking.