I would like to know if I can recreate it.

It is a baked on Proprietary lube. Remember, you need to reduce the bullet dia by .001
( +/- )before applying the lube as it is that thick.

I have had a fellow locally try it, and found it was not worth the trouble.

Thank you, I was aware of it being proprietary, but I was wondering if anyone knew what it is?
Someone has to know.

why not e-mail Barnes and ask. They are out of that design now-- so they may tell you. Worth a try.