The AMD Athlon XP in my home computer has a chip in one corner, and if you look really really closely you can see a perfect 90-degree angle inside the chipped area, perhaps the edge of the actual circuitry inside the die. I have used AS5 on it and other AMDs with similar damage for years and they all work perfectly.
Most AMD Athlon CPUs were actually destroyed by torque from the heavy heatsink bending the weak die carrier and breaking wires inside it, because they stopped using ceramic carriers and switched to something resembling regular circuit boards instead. These could not stand up to the stress of having a heatsink clamped onto them for long periods of time, and nowadays the only ones that still function are the ones that were braced with thin metal shims that redistributed pressure around the outer edges of the carrier, directly above where the pins lock into the CPU socket. Newer CPUs deal with this problem by using aluminum covers installed at the factory, which serve several purposes: conducting heat from the die to the heatsink, redistributing the heatsink clamping pressure to the edges of the die carrier, and preventing the die from being chipped. In no case is the heatsink thermal compound to blame for the failures of AMD CPUs -- assuming the user used it properly, of course. There's no accounting for user error.
I have used AS5 and AS epoxy on dozens of CPUs and motherboard chipsets, as well as modding a couple of flashlights now. AS5's electrical capacitance is not, and never will be, a real issue, and Arctic Silver would've done better to have never mentioned it as a possibility in the first place. They ruined the market share of what should be the most popular product of its kind on the market, by giving people a reason to blame it for their own mistakes.
EDIT: Without seeing the circuit diagrams of the circuits "repaired" using Arctic Silver epoxy, I can't say why they worked, but my guess is the traces in question carried signals that changed voltages at extremely high frequencies, in which case the capacitance of the Arctic Silver would be sufficient to transmit the signal down the wire. It would not work in a situation with a constant voltage being applied across the damaged area.