Never used but IMO anything that claims to strip bugs will strip the LSP if left to dwell long enough.
On the subject of foaming, how long wll the foam dwell on the finish? That and concentration levels will determine if it strips your lsp.
Also you said wax coating, a true carnuba wax does not last very long anyhow, what are you using? I'd honestly suggest a sealant for NE winters. heck I use sealants here in So Cal on all cars simply for the protection factor we rarely have weather.
08 E90 335i Monaco Blue Gray Dakota ZPP ZSP Heated Seats CA Step w/Paddles iPod