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It might... but technically WD40 is not a lubricant..it is a water dispersent and increases the torque required to tighten bolts.... . although it is used like that all the time..
BUT... there are electrical things inside that mechanism... so I would not use it myself... it also leaves a gummy film compared to some things....
I would be more prone to spraying an electrical cleaning spray into there which does not leave any film...
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