If you even *suspect* you're using too much, then you almost certainly are. I've done an Audi A8 with the miniscule amount of wax that was stuck in the fold at the bottom of the tin. Remember that 99.9% of the wax you apply gets buffed back off anyhow.
When you're sure your pad needs more wax, try wiping it against a piece of chrome or black trim, see if it leaves wax behind after all.
Oh, and while I do love to apply waxes (including pastes) via machine, I do Souveran by hand. If you have a specific reason for doing it via machine, then OK, but otherwise I'd give that some thought.
Oh#2, while most people say to wipe Souveran off before it hazes, I've come to prefer letting it set up until it'll pass the "finger-swipe test". But you gotta apply it nice and thin for that to work OK.
Oh#3, I simply love using Souveran of black exterior trim, even if it does need to be redone pretty soon. Been using it on the Jag's trim (including exterior rubber) for *decades* now.