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I'm in a slightly worse position as you as I can't see the drill! I dropped some shiny plated differential cogs into that Rustyco stuff I'm using and it turned the coating into back mush overnight.
That problem could been a cleanliness related problem too because the solution had been used to de-rust parts that originally had been galvanised. Leaving parts in some sort of electrolyte can promote a bit of dissimilar electrickery that starts a slow electroplating process - so stuff gets transferred through out the bath from surface to surface and muck to muck and muck to surface etc.
On the whole these products do a little bit of the "wonder stuff" they are meant to do but if you are introducing grotty / dirty stuff it can sometimes have a bit of an unexpected effect (if the dreaded sludge doesn't get to it first).
Because you are trying to free up a greasy closed environment I'd stick with the oil based (penetrating oil) solutions if you can find them.
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