It contains some sort of tree oil that will damage the labyrinth organ. I know some people use it with no problem but personally I would never take that sort of a chance.
Here is a guide to healing fin rot:
Treat with Aq.Salt at 1 tsp/gal. Increase water changes to 100% daily. Replace accurate amount of salt following water changes. Add Stress Coat to help repair tissue. If there is little to no improvement within the first 5 days, you can increase the salt dosage gradually to 2tsp/gal but do not continue any salt treatments past 10 days. Medication: If Conservative treatment is ineffective use API Tetracycline, API Fungus Cure, API Triple Sulfa, OR API Erythromycin. Also add Stress Coat to help regrowth. Continue until fins/tail stop receding and start showing some new growth.
Good luck with your betta, I wish him a speedy recovery! :)