Contender is correct on the Hornady swaged bullets. They roll the motor mica in along with a light knurl pattern to help hold it. They apparently dip or spray on a thin layer of wax of some kind first for better adhesion and lube qualities, because I've seen it appear on the dies after awhile. It looked like beeswax. It's probably not been since the early 80's that I have used their swaged bullets because I started casting somewhere in that time frame, but I recall seeing that wax and assume they haven't changed it.
I have had good luck using a large (1 cup) aluminum cook's salt shaker to dust cast bullets with motor mica. When I use Lee Liquid Alox, right before it is fully dry and while it is still just a bit tacky, I give them that dusting and roll them around in a plastic paint mixing bucket. It makes them easier to handle and store and generally less messy. Another benefit seems to be improved feed reliability.
I have also used double coats of the Lee Liquid Alox by thinning it a little in mineral spirits. The first thin coat has been to help put them through a Lee sizer. The second coat is to replace what the Lee sizer wiped away from the bearing surface. This thread has got me thinking, though, that it might be worth trying to dust motor mica onto the first thin coat to see whether the Lee sizer wipes it all away or if the slicker surface allows the sizer to press it into the bullet surface? It may depend how hard the bullet is, but I think I will give it a try?
I have not mixed mica directly into a conventional lubricator/sizer lube. I don't see any reason not to try it, but I'm not clear it would have all the advantages of the surface application?
Any lube that reduces friction will reduce the contribution of friction to heat. I can't think of anything else about mica that would affect heat in a gun? It's not a better insulator than gases are.