Well they call it a wax, but it's actually a high temperature resistant blend of something that was originally designed to protect electrical transformers from fires and voltage flashovers and such. I'm not sure what exactly, but if you have a look at the product description
here it'll explain a bit more.
Collinite Insulator Wax #845
What it comes down to is that it doesn't seem to evaporate like a normal Carnauba wax, so high temperatures don't effect it. Not only that, but it's also extremely easy to apply and remove when you apply it thinly enough (thin is in with this stuff).
This is what I use on wheels, and so far it's coming up on the 5 month mark since I first applied it and it's still holding up strong. Why buy some wheel glaze or wheel wax or whatever when you can have a product that can be used on paint as well when you need some extremely durable protection (think engine bay paint).
EDIT:
On the Autogeek review page, there are no bad reviews, infact, none that rate it under 4*! (and there are 31+ ratings)
All reviews for Collinite Liquid Insulator Wax #845