If my palm touch does find the flex shaft warmer than normal then I will get out my $10 thermometer to check the actual temp. My "normal" range seems to be low 80s to low 90s. If I see it getting above the 95 range then I monitor it through out the rest of the carve. Up over 100 then it is a sign to clean and relube it. I have not lubed it for over a year now.
Lubing the shaft on a "set schedule" could lead to over lubing and getting the top hat loaded with the run off...