The vast majority of typical, easily available o-rings floating around today are simply the result of developmental history in the huge auto, military, heavy machinery, aircraft industries, etc... Designed to seal petroleum-based fluids, primarily. I'd bet money that's what Peter uses - most likely Buna-N(nitrile) or Neoprene - very commonly available for cheap, in a huge array of sizes. Autos are full of 'em.
I always use a quality wheel bearing grease on my Arc AAA's, works great. Probably should keep it off of the foam, though.
Silicone greases are poor lubricants - they were developed more for their di-electric, viscosity/temperature stability, and water repelling characteristics than as lubricants. Your o-rings - as well as the head/barrel threads - will last longer with petrol lubes, IMHO. Millions of years old, and the dinosaurs still rule!!
Bob