I was about to make a new post, but I figured here was as good as anywhere.. I just made a paste compound out of the green buffing bar stuff from sears. Heated it on medium heat in a double boiler setup until it melted, then mixed it with around 6 tablespoons of olive oil (only because that's what I had convenient, and it was an experiment)
at first, I tried rubbing the compound on while still warm, and it worked ok, but didn't seem to be getting enough of the actual green rouge onto the leather, so I randomly remembered about how you can boil leather in wax to impregnate it with the stuff, and after figuring the bar was some sort of waxy compound, proceeded to just take a piece of 3 or 4oz scrap cowhide and soak it in the heated mixture. after about a minute or two, I pulled it out, and there was a fair amount of excess on it that I rubbed off with a paper towel. What was left was what I think is a fairly good surface for stropping and polishing. I tried polishing a few stone marks out of a tandy tool that I had ground the texture out of for a cheap crowner, and it polished it to a near mirror finish. I would call that a success in my book. Might try mixing it with bee's wax instead of oil, or switching oil types.
Anyone have any suggestions for improvement? After pouring the mixture into a bottle, it cooled off and turned into almost a saddle soap consistency. I'm wondering if I can just rub that into something, or even rub it on and heat with a hair dryer to get it to soak in more.