I don't see why that wouldn't work. I'd imagine you could use light oil or white spirit to reduce the melting point to work well with any temperature setting/fluidity wanted.
I'd also mention that I always dilute my wax emulsion quite significantly. This aids drying time, but I have to admit I still like to give it an hour or two, which really helps even thick glaze come right off.
As an off beat idea how about using lacquer or something similar that is alcohol based. Should dry much faster. I know people who do water etching on leather hard clay like lacquer. No idea if it work on bisque however (I could imagine the layer not being quite thick enough to get into pores etc).