Hi Gus,
Polymerized oil means it was heat treated to speed up the drying process. For example, raw tung oil takes months to dry almost if ever, but Sutherland-Welles polymerized tung oil dries to the touch usually in 4 hours and is completely dry in 24 depending on humidity and temp. Below is an excerpt from Robert Flexner's book on wood finishes:
"Polymerized Oil
Any curing or semi-curing oil can be heated in an oxygen-free environment (so the oil does not burn) to increase its gloss and hardness, and reduce its curing time......
Polymerized oil is sometimes used as a finish by itself. It cures very fast and very hard and resists water and water vapor penetration. Many gun owners like the results they get when they rub in this oil, usually sold by other names such as Tru-Oil, onto their gun stocks. Because the oil is hard when cured, it is possible to build a film from many thin coats.
There are two problems with using polymerized oil as a finish on large surfaces such as furniture: it is expensive and it
cures too fast to be applied and wiped off unless it has been thinned a lot with mineral spirits."
The take home message is that polymerized oils can be used on small surfaces like gun stocks unthinned because you will be wiping off any excess very quickly. However, on a hot dry day I find polymerized oil dries too fast to hand rub in so I usually thin it with mineral spirits. Moreover, I thin my oil for the first coats, which takes longer to dry and has time to penetrate deeper. For the top coats, I usually use unthinned oil unless the weather causes it to dry too quickly. Another trick to slow down drying is to add raw oil. For example you could add a tiny bit of raw artist-grade linseed oil to Tru-oil or (as I do sometimes) raw tung oil to polymerized tung oil. The key is to put it on thin and let it dry completely (24 hours) between coats.
In the photo below are two original English fowlers on the right and two of my guns on the left that were finished using thinned and unthinned polymerized tung oil.
dave