Sprey, when I was cleaning the mode selector switch i was using a carb cleaner and a clean shop rag. once clean and dry I used a petroleum based compound that protects wires and contacts. it is an electrical product made to protect aluminum wires from oxidizing. it is an electrically conductive compound to it will transfer a signal or current helping worn contacts. the stuff I used came in a tube and is made by Illsco.
Also after doing the cleaning I flushed the tranny and filled up with new fluid. seeing the difficulty of checking the fluid level, this might not be something that a normal car owner would do on a regular basis. I believe that low fluid was partly to blame for my problems dealing with the jerking and gear light in the dash showing the wrong gear.