I use Lexol Neatsfoot on all of my leather including my SBL stuff. It hasn't changed the color of any of the leather I have including the one SBL tobacco Large bag I have. I thought it would and part of why I used it in the first place.
It darkens the leather at first cause it's obviously wet, but once the leather soaks it up it pretty much goes back to it's original color. Out of all the different types of leather I have, I would have thought the unfinished nature of the tobacco would change dramatically but it didn't. YMMV.
I've had good success with it as a conditioner on cow, bull, horse, elephant, and shark skins. Mostly belts, jackets, watch straps, and holsters.