Sam
I use a lot of tung oil to do my finishes. The can of "Tung Oil" that you purchased at Home Depot bears little resemblance to the pure tung oil that is available. The product in the can that you purchased all ready has been thinned and has dryers added. What I use is the pure tung oil which I get from my local WoodCraft store. I make a mixture of 70 / 30 Tung Oil to Mineral Spirits. Tung OIl is one of the few "drying oils" What it does is penetrate the pores of the wood and get below the surface then when the air hits it the oil starts to congeal. Most finishes such as Lacquer, Shellac, Polyurethane sit on the top layer of the woods surface where it becomes cured. The Tung Oil because it sits below the surface helps prevent the top coat finish from soaking into the wood. Most finishes are fine as a top coat on top of Tung Oil. Please be aware that the rags that you apply the oil with and the rags that you wipe off the excess with should never be left crumpled in a ball as they can spontaneously combust and burn your shop down. Hope this helped a bit Sam. Feel free to ask questions if you have more.
DW