Firstly, here is a good link to read up about the wax.
http://www.autogeekonline.net/forum/...ndary-wax.html
Secondly, I don't personally recommend using it on the shadowline (just out of habit for me not waxing trim pieces), but others may have a different take on this. As for the wheels, I'm not too sure if it will last long because of the heat generated from the brakes. Not too sure if the wax has a high enough ability to resist heats. For my wheels I use poorboys wheel sealant. Works great. Others have success with the armorall wheel protectant.
Hope that helps!