There is some truth here because essentially what will happen is the wax emulsion will be competing for bond site area with Extreme Pressure additives present in motor oils and hydraulic oils. So as long as you don’t use an oil with EP additives it should be fine. Examples of EP less oils would be vegetable or tallow oils (fish oil). But essentially the bst course of action is once the chain is cleaned , rinse it in hot water immediately and then lube it with your water carrier wax lube. Let that dry and then apply some more. There’s no point drying a chain thoroughly from water only to add more water back to it. Water carrier wax lubes can be applied to wet chains , in fact this allows the line to spread itself more effectively
