What is your application and what do you mean by air/oil? We have a product in the lubrication distribution line we carry called air/oil that we use in specific applications and have used gear lube in most of them without issue.
The term air/oil is used when we use air to move the oil down the line. By doing this it wets out the lubricant on the inside of the tube and you get a very fine constant spray of oil at the application point. This technology is one of the best ways to meter and dispense oil for high speed bearing applications, fast moving chains, or any other application were small amounts of lube are required often. Some of the other oil mist technologies actually heat the oil to help it atomize before putting it into the system. I can see where heating the oil could cause the carbon problems and only if the oil is over heated.
Email me if you need specific info deanm@autolube.ca