Yes, I use it on the teak seats and floor, and it does a great job.
The first time you use it, you clean it, brighten it, then give it 2 or 3 coats of protector, then each year just give it a go with the cleaner and then stick another coat of protector on.
It makes the teak look better, but also stops water soaking into it and so it dries much quicker, and it's not slippery at all.
I have some pics but can't work out how to upload them.