I've used T-cut many times over the years. Must admit I've had a few rub-throughs, but usually when I was doing some kind of spot repair and over-sanded the surrounding area. :roll:
It is fairly abrasive, but much gentler than something like Brasso (never used that on a guitar, but it will, for example, take gold plate off hardware quite easily).
That Fender kit might do the trick, never tried it, but it might be a bit too gentle to shine-up a matt finish.