Hey Chase!
I had a creak on my Atlantis when I first got it last fall and I was super bummed that I couldn't seem to fix it with the amount of tension (or lack thereof) on the nut on the stem clamp thing. It was suggested I look at a thread that Leah started a long time ago about something similar and I was able to fix my creak by lightly lubing the contact point between handlebar and stem. I loosened the nut and slid the handle bar out used a couple drops of Boeshield T9. Put it back together and the creak almost vanished completely immediately. I let it sit overnight and by the time I rode to work the next morning, the creak vanished and hasn't come back since.
I have no experience with the compound you're looking at, but if it's a lubricant, I'm guessing it'd be fine.
Good luck!
Ben