'Traditional' London oil uses Beeswax not Carnauba.I have used both and prefer Carnauba.
That being said, the customer is always right, and my customers harried me for an oil that was traditional but dried fast so my stock polishing oil contains no added wax.My refinishing oil contains wax.
Some of my customers specify Tru-oil and that is what they get.They are possibly my better customers, because I get to re-do their guns regularly.Tru-oil doesn't seem to wear well.


Imagine the scenario:
Monday morning, "Hi, could you alter the cast a little more to cast it to the right, fit a Kick-eeze, and refinish the stock like yours?" "Will it be ready for Thursday, so I can shoot at the club, to get my eye in?"
Loooooooooooooong pause

"No sir"