http://www.oregonproducts.com/pdf/Arborol_A107105-AB.pdf
This is the only stuff I know of available in the US to buy. I understand there are other brands available in the EU countries due to regulations, but I don't know the names.
I've made it myself using a water geling agent, dish soap, oil (both dino and veggy) and water. I have not used the Arborol stuff. I got the idea from a discussion of nature friendly bar oils on an arborist forum.
With the stuff I made I noticed the bar will run much cooler and if mixed up on the thinner side the oiler will empty one tank of oil to a tank of gas. It works really well for cutting stumps which is harder on chains, saws, and bars than milling. I've not used it for milling due to never getting around to it. The only reason I've stopped using it is the time factor of mixing it up a gallon at a time, I've got crews that will use more than that before lunch so it was a hassle to keep up. But it was cheap and bar wear was the same or less than standard bar oil, chain stretch seemed to be less and the saws were indeed cleaner, plus they smelled good.
All last winter I ran a 50/50 mix of regular bar oil and veggy oil, it is a little thinner and worked better than standard bar oil in the cold weather, very clingly and slick.
In a milling application I can't see adding water on the end of the bar being a problem. Unless you mill only bone dry wood there is a good amount of water being run over everything anyway, already mixed with acids in the wood. If anything adding water will dilute the nasty stuff from the wood being cut and help out the oil you are pumping into the chain and bar from the saw end.
Another thought is that diamond chainsaws use water to lubricate and cool the chain and bar while cutting concrete.
Well, that got long and rambling...
Mr. HE