As a rule of thumb, be wary of any assembly lubrication product where the oil separates on top of the grease. If this happens when you open a can of grease, yo can use a clean screwdriver to thoroughly mix the oil back into the grease.
However, the question remains as to whether or not the oil and grease will re-separate after application. If it does, the oil will migrate out and leave the bearing or seal unprotected. If you buy a brand of grease that separates in the can, never buy that brand again.
I opened my trusty can of grease for the first time in a couple of years and discovered that there was some kind of fluid floating on top of the grease. Is my grease expired, or can I still use it?