ORIGINAL: rccheech
No it will not, better to use air tool oil or after run oil.
Most ARO is ATF anyway. When I actually use ARO, I use mineral ATF and Seafoam mixed at 4:1 respectively. Seafoam mixes with petroleum and alcohol. When the engine gets fired back up, it blows all of the ATF out. This mixture also does wonders for minimizing carbon.