Here is a description of dielectric grease i found .
Dielectric greaseDielectric grease is a nonconductive grease. As such, it does not enhance the flow of electrical current. Thus electrical conductors should not be coated with dielectric grease prior to being mated. Dielectric grease is, however, often applied to electrical connectors, particularly those containing rubber gaskets, as a means of lubricating and sealing rubber portions of the connector.
""The widest use of dielectric grease is in high-voltage connections associated with spark plugs. The grease is applied to the rubber boot of the plug wire. This helps the rubber boot slide onto the ceramic insulator of the plug. The grease also acts to seal the rubber boot, while at the same time preventing the rubber from becoming stuck to the ceramic. Generally spark plugs are located in areas of high temperature, and the grease is formulated to withstand the temperature range expected.
Another common use of dielectric grease is on the rubber mating surfaces or gaskets of multi-pin electrical connectors used in automotive and marine engines. The grease again acts as a lubricant and a sealant on the nonconductive mating surfaces of the connector. It is not recommended to be applied to the actual electrical conductive contacts of the connector because it could interfere with the electrical signals passing through the connector.""
Some more searching leads me to believe the grease I see is "electrical contact grease" most descriptions I find of this is that it is a conductive mineral based amber colored greased used to prevent corosion and improve electrical connections. The stuff Mark shows is not a grease, although the same company sells mineral based electrical contact grease that is amber colored. The also sell the fader lube in a grease form. Turns out it is pretty common. Thanks makr for pointing me in the right direction.