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The worst that could happen ? - Is that you get excess lubricant all over your eyepieces, your OTA optics, your hands and eventually it will spread to everything including potentially onto the inner surfaces of the lens elements
WD40 is designed to creep at a molecular level and that is what it will do.
Put a drop of oil in a swimming pool and see how much area it covers !
I think the risk of doing damage/interference is greater by doing it than by not.
Your mount is mostly cast aluminium, its powdercoated, the hardware is stainless, internally its lubricated - not a lot you need to worry about.
Dry it off after use - use a chamois and a teatowel, maybe a hair dryer etc if you are really worried.
Keep it well covered if you are leaving it permanently setup or store it in its case with fresh dessicant to remove any hidden moisture.
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