Me and a friend have been debating on this topic. I was thinking what if instead of spraying on the heat exchanger, have it spray on both the supercharger and intake manifold. In my head I see it to be better than spraying on the H.E. since the supercharger is the main item that builds the heat. You cool the surface thus cooling the air around it or in this case inside it.

 

Surface area to volume ratio. If it worked the heat exchanger would be best, but it doesn't.