I've not heard of it, but Oxalic acid works great to get rid of the old dead wood surface.
product called Bar Keepers Friend is a mild version of this. I get it at the "dollar Store for about a dollar and a half. It also works on stainless steel
too. You really don't need the high powered works in 30 seconds products. Wood can stain and it can go deep. A mild cleaner and some very light sanding
will do about all you can expect. The red color of teak
comes from the natural oils in the wood. Most modern teak has less than the real Asian Teak (they only real teak). Using stronger chemicals will just bleach out the oils and turn the wood silver and then lose all the preservative powers of the teak oil
For real teak, a light sand paper should yield blood red dust easily. The outer layer turns silver but the red oil
impregnated wood will lie below a very very thin layer. The modern sustainable forest "Honey Teak" used today is not really teak at all and lacks about 2/3rds the oil content of the real Asian Teak.