Paul's reply stands. In addition: did you shake the bottle with the cream? This is essentially a very fine abrasive suspended in a liquid, and it has a tendency to separate, i.e. you get all the abrasive at the bottom and all the liquid at the top. Unless you shake the bottle vigorously, you won't get any abrasive onto the workpiece, and in consequence no burnishing takes place.
Burnishing takes a bit of practice and experience. I would suggest that you need way more than two layers of lacquer, at least 4 or 5. And your surface underneath has to be pretty spotless, every single little scratch will show up unless you have plenty of lacquer on top.
Yes, you can use it on satin lacquer, and I've seen at least one professional turner who claims it works better on satin than on gloss. Haven't noticed a difference myself, but I don't do a lot of burnishing.