is it ok to dye and wax collector traps like I would if I had intended to use them?

No, that is not the best thing to do with collector traps. They are your traps, you can do what you like, but if you want to preserve them and thier collector value, WD40 is a good way to clean them up. You can use WD40, steel wool and a hand held wire brush, just don't get too carried away. You want to keep the patina, natural brown color of the metal. After you have cleaned them up, dry them with paper towels. The WD40 gives them a nice dark brown color.