Nope, the point in cloning waxes and horticultural oils is to seal the upper surface of the leaf against moisture loss. The plant does make its own thin waxy cuticle, but this may not be enough to protect it from dry air when it is going through the stress of cloning. So I guess you can say it is like a little portable humidity dome on each leaf. Be careful not to overapply- you don't need much.
Another bonus is that both neem and coriander oils inhibit fungal spores taking hold on your little plants.

Edit: Hahaha Mr. C gots the speedy fingers this morning!