Hey their QSD,
Nope. First it is diluted 50% from full strength, and the Isobutyle is a good way to remove any excess wax, and chemical residue which in return makes the surface less slick so things can stick to the surface easier, but the mixture will not remove applied waxes, and silicons from the surface so its safe to use without any worry of wiping away any protective qualities. Of course, any time you do anything to the paint surface, and have any questions, or doubts, you can always go ahead and apply a quick coat of your favorite wax over the effected area just to feel more at ease.
Go easy,
Candyman