Mike
I do not think it will yellow. But I could not get a good shine from it either. Check with some of the RC guys. My guess is if you can find an older pattern flier they will know about it more. I laid two coats of it on and I think it would make a better result with like 3 or 4. I did not do a real wet coat cause the plane was already heavy (it was an arc) and it was not meant as a concours plane. I really felt the finish was an experiment and by the time I got to the lustercoat I had found the sanding problem. btw, I did use floetrol. Used it per the directions on the bottle. Can't remember them now. Also it was my first attempt at using a gravity feed gun. That was another thing that did not work well in my hands. Obviously mileage differs on that one.
good luck,
bob