I would be concerned it may be too coarse and go through the Alclad layer. But, I know some folks do polish using 3M compounds - I would do a search to see if you can find out more particulars as to what they use - and if what you have is the same stuff.
The problem with burning through the Alclad is the aluminum below is a different grade and while it will polish up, the shine will not last. Also, it will be very cloudy & uneven unless you remove
all the Alclad...
Shari