Sue - I looked at the ingredients and you are right, it has 5% - Sesame Oil, 95% - Lecithin, Edible Fish Oil, Potassium, Sorbate, Water. It can be used on edibles and will not harm bees or butterflies. Though I am sure it will kill caterpillars. I was surprised to see Potassium considering what you said. Kills eggs to adults which would included the following pests: Aphids, Whitefiles, Fungus Gnats, Scale, Spider Mites, Thrips, Mealy Bugs, fungal diseases such as downy and powdery mildew, black spot, etc. Probably not rust though .... but you never know. It says a single application should be all that is needed, but if there is a bad infestation, it may require 2 treatments 7 days apart. For maintenance, spray monthly or spot treat as needed. Do not use if temps are 95 or higher.
It has been a few weeks since I treated all my daylilies with this stuff. Foliage is coming back and the plants are starting to fill out and look good again. I do feel like I should spray everything again since I do worry about the aphids coming back. It seemed like it happened so quickly that by the time I really noticed leaf death that it was already a horrible infestation.
I think if the Ladybugs had come back, it would never have gotten that bad. I have not seen a single Ladybug since last Spring. So something is going on concerning those beneficial bugs.
I do indeed use Osmocote or other slow-release fertilizer that is similar. I liked the Miloganite fertilizer because it really does promote foliage growth. My daylilies always produce nice green clumps when I use it, but it never fails .... the aphids soon show up after my daylilies are looking their best after using Miloganite! You may be right about the Potassium. Could I treat the plants with some sort of Potassium if I use Miloganite fertilizer?