Update from previous post... I applied another coat of this stuff over the weekend and had different results that are encouraging. When I did the first coat a few weekends ago, the cloths I used were completely black after applying it. At the time I thought it must be a byproduct of the Meguiar's product (similar to what happens when you rub a cloth over a fresh coat of tire black), but when reapplying it Sunday night it didn't turn the cloths black at all. Now my suspicion is that the black substance was actually Back to Black residue coming off the cladding.
The Meguiar's product is very similar to their Cleaner Wax in consistency (thick just like liquid wax) as well as function, as Cleaner Wax removes crap in your paint that washing doesn't. Back to Black on the other hand is a thin, runny substance that looks oily after application. So now I wonder whether the running was due to the last remnants of B2B preventing the Meguiar's stuff from fully adhering to the surface. Can't wait for the next rainfall to see if the running stops or at least slows. I know I had terrible problems with B2B running at first, but after reapplying it every few weeks for several months the streaking was much less pronounced. Let's hope it's the same with this stuff.
Oh and one more thing - the label is right, you can definitely use a car duster on it without streaking the coating or rubbing dust/pollen into it. Anyone who's tried using a car duster on B2B treated cladding should know that's a huge improvement.