Great question...and the answer is I don't know. There are 2 angles to your question:
- The repeated soaking and heating....well you have a ball that is "dead", meaning the cover is saturated and can't make friction with the lane anymore. So if there is any damage from the repeated heating, the alternative is to have an expensive doorstop or spare ball. I have been doing this for years though and never had any negative effects on coverstocks.
- The chemical is the unknown here, and so far I have only done it to experimental pieces, no customers balls have experienced this. Logic tells me the lane cleaner should be fine, as it's used on the lanes themselves. However I'll find out on a few of my balls and a buddy or two's before going public with it.
Little known fact: In Russian "Hope" and "Change" translate to "Tax" and "Spend"