Been out for a while I thought?
I have not used it but believe it is more of a chemical paint cleaner, than an abbrassive polish, I'd go for the Scratch X for deeper marks.
Depending what shape you paint is in, you may notice where you havent used it and where you have. I would work it a panel at a time.
Any abbrasive polish will remove some clearcoat, I dont think you will remove much with the Colour X, as its more a chemical cleaner so I have read.
On any laquered car you cant do anything to the colour base coat, bar get it re painted.