Sid, if you normally play with inverted "Normal" sponged rubber, then suddenly slapping on some pips might be fun and help you learn firsthand how to play different, that isn't exactly going to solve your problem which is READING SPIN.
You are going to have to learn to listen to the sound and watch the ball how it flies in the air, how it dips or floats, and how it bounces off the table. If you can get good at reading those clues, you will be on the road to learning how to read spin better, then it will later translate into less lost points.
Parrafin oil is usually used to help the performance of the sponge in an inverted rubber. Regardless of how the pips are treated, as long as the pips are consistently treated across and on sides of pips it should not matter, the ball will act a certain way given the same stroke and input. The operator of the LP can "Kill" spin if he has a soft hand and good touch. That can be tricky, you might think there is more spin on the ball. The same player can also continue the spin and make it heavier than it looks. He can also fake chop to give you a ball with less underspin making you open your blade and hit out. This is a good thing for YOU to do to a ball on your BH that you cannot strongly attack, it keeps you in the point, you get back into some kind of position, and you watch an opponent try to attack the ball and hit it out!
I used that technique vs a very eager and capable looper last tourney. I am a 2x Inverted player, but I saw this player play a match earlier. he could make a very strong and spinny topspin that won a lot of points. I saw that when he had to hit against a weak underspin he thought was heavy, he would hit out and wonder why. So, I gave him a lot of heavy underspin that he hit into the net over and over. I kept adding points to the score without much risk. Why not? He eventually adjusted and barely got it over, then I stepped in and fast blocked for a winner or pressure or error. Moar points for me without much risk. I then started giving him "Dead" balls that he eagerly attacked for spin or power, but knocked almost everyone long and out. He was scratching his head while I was laughing like a Hyena. When he started to adjust to that, I blocked his loops if ZI could, then started to go heavy underspin again. He suddenly was putting shots into the net and lifted more, so I gave him dead balls again and he was hitting it out of the court.
The reason why I say that story is that it doesn't really take a treated LP rubber to get an opponent wondering what you put on the ball. You take advantage of that in a match to reduce your risk, increase his errors and stress, and have some good ole LULZ.