On and Off will stain some bottom paints and might affect them but I don't think it will remove paint. Easy Off will.

As for wearing a space suit, with On and Off I do wear a Tyvek suit and gloves, and eye protection. If you don't think that's necessary just try spilling a few drops on your blue jeans, and let it sit long enough to dry. If you get it on your skin it will cause a burn unless you rinse immediately and thoroughly.