I have never applied liquid waxes with a DA but can't see why it wouldn't be worth a try. If I was to try I'd go with the least aggressive pad I had plus the slowest machine setting and very little pressure, if any. I would imagine they might dry out rather quickly and you might risk rubbing dried product into your freshly polished surface, but I'm guessing as I've never tried it.
Things I do use the DA for, apart from polishing/correction work, is applying paint/pre-wax cleaners and products such as autoglym SRP, again on finishing pads. I favour paste waxes (got some dodo panel pots and glasur) and have also recently had a go with Zaino, all of which I applied by hand.