Haven't tried it and probably won't. I'm afraid the Gamsol wil cause the little rubber gasket inside the aquapainter to deteriorate. Also, the technique with the paper stumps works best if the stump is just kind of damp, not dripping wet; and part of what makes it work is the pressure from the stump moving the colored pencil around. I don't think that an aquapainter would give enough pressure to move the color.
~~Cheryl, with a "C"