I use Tung Oil all the time for finishes and it's my favorite if I have to pick just one.
Tung oil should be cut using mineral spirits in my book. That is what I have always used and it works really well. Minwax recommends this approach for Minwax Tung oil as well. I have no idea if the product you mentioned will work. It should list a thinner on the can with most products.
I have pure tung oil from the Real Milk Paint Company and it says it can be used as it is or cut with citrus oil. That's what d-Limonene is basically, the by-product of of making orange juice commercially. I am trying to use more natural ingredients. You know, go green and all.