If you go too thin with the lube that might be the case, but using 90w should see it right. After all, the material is the same as used on most other shaft drives and they are oil lubed rather than moly'd.
Personally, I prefer the theory of a thinner lube being there all the time over a thick lube being applied once every few thousand miles.
My 'new' shaft housing has turned up, so experiment time is almost upon us.....