In a word, yes. I had the heads off a shortblock and I coated down the cylinders with WD-40 until I could get to taking the rest of it apart...
Dumb me...
Once I got it apart and took the old rings off and cleaned the pistons...
To my amazement, shock, and horror...the ring lands were pitted like the surface of the moon...
I could not believe it and kept telling myself that it would 'clean up'...
But, no...
no matter what I did, wished, and hoped and prayed for...they did not get any better...
Those pistons were my treasured 'street and strip' pistons...forged and high compression...my darling baby-dolls....
A buddy of mine wanted them for sentimental reasons...so...I gave them to him...
That was a hard lesson...
I also had a hard lesson about using adequate fasteners...and...about listening to your gut feelings...instead of someone else's opinion...but that is a story for another day...
Anyway...don't mix WD-40 and aluminum for any extended length of time...