Many years ago when my Long 2360 was new and just delivered, I noticed lots of corrosion on the battery support carrier. I treated it and repainted. It continued to rust, and a closer examination revealed the battery was actually split and leaking when it was less than level. So I called the dealer and he sent out a new battery. I cleaned (baking soda) the metal, primed and painted. Before long the second battery got a split near the top of it, and was leaking acid. So this time I grew a brain and measured the charging voltage.. 17 volts. Whoops, that ain't good. I finally found a loose wire on the external voltage regulator (not built into the alternator, like most modern ones will be) and repairs that. So now we put in battery number 3, and measured the voltage, all good at around 14.1, falling thru time to about 13.8 as the battery charged. So I fought the corrosion of the metal battery support plate again and again. Even though no new acid was being dropped on the metal, that stuff soaks into the "rust" and is difficult to neutralize. Finally got it to stabilize and hold paint. A thick plastic battery carrier would have been a great idea. Of course this old Long was a copy of a much earlier Ford design and it was more like a 1950's tractor instead of a 90's tractor.
So yeah the No-Ox-Id will stop the normal corrosion that forms on battery terminals/cables, but If you have a split battery leaking actual fluid out onto your carrier, you have a much larger problem.
I am also still using my original "stock" of No-Ox-Id gleaned from the leftovers of installation of PBX battery systems in the telephone industry. I am down to 2 or 3 ounces maybe now, but will it run out before I "run out"? I don't know. Good stuff, and I have been using it for 40 years.