Funny stuff... or not.... depending on how tightly you're wound.
There is really not much rocket science to this stuff. Like anything else target a specific mission, do some due diligence in formulating a plan of attack, and if the shoe fits, wear it... or not... I see the OP's question as a good question and valid attempt at following the above, until emotions, sarcasm, and satire,get in the way...
The contents of MMO have been available since the dawn of time, so I doubt anyone is suggesting witchcraft or magic. Users, (such as myself) just prefer not to have to own a distillery to produce something that can be had pretty much anywhere (in a handy carrying case).
Testing and due diligence are things that need to be done in a fashion that actually makes sense with YOUR specific mission. Using someone else's litmus test can be anywhere from a precise fit, to totally meaningless... Including those of the FAA, NTSB, Big Pharma, or Big Aero...
The notion that because something is not FAA approved it can't be good, is so poor of an excuse for an argument that I'm surprised anyone even bothers singing that song anymore? I'm not suggesting we burn the feds at the stake and fly in total anarchy, I'm just pointing out that regs are developed over a long drawn out period of time in a fashion to be as 'stupid proof' to the unwashed masses as possible. Every scenario can't be addressed and somethings will never be approved before a better mousetrap comes along. Doesn't mean the old one didn't kill mice btw... To the best of my knowledge, one of the above posters has had at least two turbine engine failures as a direct result of the use of FAA / PMA'd parts (that's techno lingo for FAA approved). In the company I used to fly for, blades from the exact same supplier on a PT6-34 led to the exact same fate

I have no idea what correlation this has to the use of an additive?
Using the NTSB as a data point in this fashion, is almost worse... They are usually VERY good at finding
something that went wrong, so good they may find several things that were wrong, or may have contributed to a bad day. Or none at all. But finding out the exact point, in what is generally a whole chain of events that led to a wreck is far more witchcraft than peppermint elixir.... Did the guy that poured the elixir have a dyslexic moment and pour 40oz instead of 04oz? Did he have an engine on the verge of catastrophic failure and not recognizing the situation choose that day to run a good smell through his engine? Who knew? But as we all know, it only takes one catastrophic event to make big enough waves to affect us all.
Lycoming and Continental doesn't approve it?

Would this make business sense? In the Pratt and Whitney research posted above, P&W potentially had big 'skin' in that game. Exhausting $9mil on a potentially billion dollar return is a no brainerd... Alternatively
Additives and elixirs have virtually no return for engine makers, while the continuous human intervention requirement, exposes liability forever if they elect to back it. The fact that they approve
any additive is almost mind boggling to me. What's more astonishing here? the fact that you can still buy a magneto lit recip, or the fact that that's almost the only way you can buy one? Let's go wayyy out on that limb and say that additive netted an extra 20,000 hrs tbo. Would that make business sense for an engine builder to back?
Do I use it? yes... I use it in bladder equipped airplanes, like another poster suggested to keep the top side of the bladders wet. I realize that eventually the bladders will dry out from the outside, but exposing both sides to dry air (particularly avgas dried air) would only seem to speed that process up to me. Another poster here suggested I pour a little pure avgas on one end of a 2x4, and do the same on the other end with a little MMO in it, then look at the board the next day... I encourage anyone with bladders to do the same... I use it in engines that are prone to lead fouling as it makes a reasonable scavenger at a reasonable price. If you've never had to run a rope down a spark plug hole, these words are probably lost on you... I use it for uses as dog pilot suggested, as it is handy and again more economical than purpose built chemicals. I don't get too wound up when someone snickers when the see a red bottle come out of the plane, and I don't even notice if I don't see one come out of someone else's airplane.
In the end, IMHO anytime you veer off the 'approved' path you are on your own. What a wonderful concept? in some cases it promotes advancement, and in the balance, it promotes Darwinism
Take care, Rob