Just because a product says it contains petroleum distillates, doesn't automatically mean it's bad. There are a multitude of chemicals that can be extracted from petroleum through distillation and these chemicals can be processed in hundreds, if not thousands, of different ways. Some of these chemicals would be harmful to your finish and some will not. The vast majority of petroleum distillates which are used in automotive wax products will not be harmful to your finish.
As far as how it affects layering, this depends on what products you're trying to use together. Products that use the same type of solvents tend to mix with each other rather than layer. It's pretty difficult, if not impossible, to accurately predict how two different products will work with each other. Probably the best way to experiment is to do 1/3rd of a hood with one product, 1/3rd with the other, and then 1/3rd with one layered over the other. You should then be able to tell if the sum of the two parts is superior to either one seperately.