QUOTE (antoniosz @ Feb 27 2006, 06:08 PM)
Well, till now from back channel discussions we have the following.
First there is a solvent in the microcrystalline wax.
Second a very small quantity needs to be applied quickly in order to allow the evaporation to occur very quickly.
I believe that I have been applying too much. I am going to play with it again.
Every site I have been to recommends using a "minimal amount" or applying a "light coat." Some actually emphasis it to the extent of saying "very, very, little amount"

You should probably also not let the wax sit on any material for longer than 15 to 30 seconds before wiping/buffing. I think almost all waxes must use some type of a solvent as a "carrier" of the stuff that gets left behind after the buffing. It could also be that the can you bought off ebay has gone bad or was not stored in a proper environment.
It seems like this particular wax is used for just about everything. So perhaps it is your using too much of it, or you have a deteriorated can of it, or your pen was in such shape that this was going to happen no matter what was you used.
There is also the possibility that the pens you have had been shabilly blackened and the wax/ploish took off the bad paint job, exposing the true extent of the discoloration.