Do you use it on the inside of the hives, or only on the outside?
I've read that it may/may not be diluted, which can effect how deep it soaks into the wood. If you dilute it with terpentine or something like that, I understand that you wouldn't want to put it on the inside of the hive. If it is natural, though, I don't know if it would matter.
How do you think the weather-ability and longevity compares to painting?