A few points to note.
One is that the waterproofing of your Camino GTX and other similar boots works differently to the traditional leather + wax system. It's a membrane between the outer and liner, so it should keep the water out* even when the boot leather wets out completely. The spray is just a DWR (durable water repellency) designed to slow this down but not prevent it completely.
Secondly, the membrane is designed to be breathable (allowing moisture vapour to escape). This relies on the outer being porous, hence the nubuck finish. Applying a wax to this clogs the pores and kills the breathability.
Thirdly, Lowa advises against using natural products like beeswax, as they can dissolve the adhesives used on modern boots with rands etc. (as @stug found out). As well as waterproofing, traditional wax products keep the leather moist and supple, so that's what the Active Cream is for.
Fourthly, the GoreTex membrane is not bulletproof and will develop cracks over time, so there may come a point where your boots still have some physical life left in them but have lost some waterproofing properties. For this reason some people prefer a traditional approach without a membrane. I'd still be cautious about beeswax-based products though for the reason outlined above.
* There's a great big hole in the top of your boot that you can't do much about if you still want to be able to wear them though. Well-fitting gaiters can slow down water ingress. I can run through a shallow stream in my Lowas and stay totally dry if I don't give the water time to work its way between the gaiters and my legs & boots, but again it's only a matter of time before it gets in and wicks down your socks.
Hope that helps.
Bookmarks