The EZ Shine Bees Wax can be used for a multitude of purposes, however the most popular would be as a shaft sealer/protectant, tip burnisher, to fill the gaps in slate seams when assembling/recovering a pool table and during the finishing of stack leather wraps.
For the 3 pool cue related uses I listed, you would need a lathe.
Folks have told us that our Burnishing Liquid works quite well as a shaft cleaner, though I do not recommend it as a sealer (it does quite the opposite to wood).
For a sealer, try that Cue Silk, Cue Kote or Perfect Shaft stuff.
Better yet, the other folks here probably have some good stuff.
The sealer we use for our X-Shafts is a custom mix that is not available on the market.