Sorry for not getting back sooner. Yes it is Quantum who makes the Hot Sauce and it is good stuff. Both the oil and the grease have there purpose. Some people don't care for it and there are other alternatives out there and for winter make sure it is a very low viscosity oil/grease. Oil I use for the hinge on the handle, the bail, the spool holdy thingy (word escapes me at the moment..ah wait spindle), drag control and grease on the interior mechanisms if necessary and depends on reel brand. Try not to use grease on the parts exposed to the elements b/c
a) it gets on your hands and line where as oil tends to sit in the groves without being excessive and
b) grease although longer lasting (sticks better) it also attracts and retains particles of sand and dirt which will cause damage.
what's better to clean reels, grease or oil? 
I use a light oil to clean my reels. I only use water/soap to clean the exterior of them. It doesn't have to be the winter oil to do the cleaning, just something to loosen the grease and grit. I think I use the little tins of household oil dabbed on a shop towel or q-tip, All-in-One or something like that. Then wipe clean. After wiping simply apply new oil/grease.
Take care if you take apart the reels because them damn little screws go flying. Spinning reels are pretty easy and for the most part you can put them back together with no problem. Now baitcasters with fancy magnetic spool drags (to stop crow's nests) are a different story. Opening up the case of them can cause springs to fly out like fireworks on Canada day.
Have you ever tried Frabils Sub Zero?
I haven't, but I do remember something a couple years ago about it being a little stiff below -15C but that could have been remedied by now so I really don't know. I do know that the stuff they use for packing the shafts of their tip-ups (pro-thermal) is very good at staying loose in the coldest of temps so if it is the same stuff then you should be good to go.
I try and not use winter stuff on my summer reels as the winter stuff can come off very easy and leave your reel with reduced lube and corrosion protection. I hope this helps.
Svengalli
