What is the evidence? To strip nickel off steel you need something like sulphuric or nitric acid. Definitely the kind of chemical that would ruin any kind of finish it touches, including your skin. And a Ballistol salesman at a machinery fair near here showed me that you can actually drink it - it tastes very odd, and I'm not sure what it's supposed to cure!
You can read all about it here;
http://www.ballistol.de/files/waffenpflege_brevier.pdf
I wonder if the stuff sold in the USAis different?