Yes, Polyx oil is good stuff; I have used it on floors and internal oak joinery.
However, I would not normally use it on a lustrous wood like sapele because it does not have the clarity of conventional oil finishes and will obscure some of the lustre. I was considering using it on a veneered table I made recently and ran some comparative tests on a sample of the veneer alongside a water based finish, shellac and Morrells pre-catalysed melamine lacquer (I ruled out oil because of its yellowing effect). Both the water based and Polyx oil took away some of the visual "life" of the wood so, although I hate using the stuff because of the fumes I chose the pre-cat because of its toughness. On the other hand, on a toy box you may not be quite so fussed about a small visual difference and Polyx Oil is certainly tough and probably tougher than the Liberon oil although I haven't tested this.
Jim