I think you are confusing mineral spirits with something else.

Mineral spirits are hydrocarbon molecules of 6 to 12 carbons. While they are flammable, they don't have much in the way of solvating power, especially where polymerized paints are concerned.

The formula for WD-40 is a trade secret so we don't know exactly what is in it. From the MSDS, we can deduce that it is likely a mixture of kerosene or, perhaps, Stoddard's solvent (50%) with mineral oil (15%) and some kind of carrier. The carrier used to be butane but has probably been replaced with carbon dioxide. If it is kerosene, then it is a mixture of hydrocarbons with 6 to 16 carbons per molecule. Stoddard's solvent is also known as mineral spirits or the same mixture as above. Mineral oil is a hydrocarbon mixture with 15 to 40 carbons per molecule.

Neither of these mixtures contains anything that would damage a painted surface. The mineral oil sticks to the surface and attracts dust and dirt particles very well. It's viscosity and low water solubility would mean that it will persist on the painted surface. Armor All is a different beasty in that it sticks to the surface but doesn't attract dirt particles. There's nothing for the dirt to stick to.

There are other solvents that will damage the paint such as acetone or methylene chloride (paint stripper). Alcohol might also do some damage to certain paints. However none of those solvents are any good at removing the compounds that make up decal and sticker adhesives. Acetone and alcohol will just cause them to gum up and make a mess that has to be physically...and rather difficultly...removed. A little mineral spirits on a cloth and a bit of rubbing will make the adhesive dissolve off with only a little effort.