Doing saxophone repair in my Seattle shop for several years, I've been trying this out for sometime now and have not yet seen any horns come back. So, while the verdict is still out on the effectiveness of this, I like the theory enough to continue doing it. That the horns have not yet come back is, perhaps, confirmation that it's providing relief from sticking G# and C# pads.
Polytetrafluoroethylene is just the chemists name for Teflon. Rubbing the powder into the grain before ironing and seating the pad gives the result you see in the photo.