I applied it to parts of the variator: the ramps, slide pieces, the metal the slide pieces contacts, collar (in retrospect I maybe shouldn't have, although it actually seemed like it was lightly oiled when I took it out), and the sliders.
It was pretty dirty when I opened it up, so unfortunately I won't know if any differences are from cleaning it or lubricating it. It all felt pretty rough in there in the first place. The plastic slide pieces especially might as well have been rusty metal. Hopefully I should be able to find out if it causes any problems, and if it helps it stay any cleaner though.
The lubricant seems like a good choice if anything is going to work. It seems to stick on well, and feels quite dry like a waxed metal table. It's all nice and smooth now, but not especially more so than the pulley surfaces are. I'd actually be curious to see if it adversely affects the belt if it's sprayed in the pulleys... not enough to try it though.
It'll be a while longer before I can actually try it, as I wait for a bearing to come in.
I'm assuming if the belt does slip, it'd be obvious?