"I've always been told that I should not use carnauba wax on gel-coat or decals because over time it will discolor the gel-coat turning it yellow."
Here are the cold hard facts - 5 things cause fiberglass to degrade. Some you can control and some you can't. They are, in no particular order of severity, Moisture, Heat, Sunlight, Time, and lastly Neglect.
Moisture, Heat and Sunlight, essentially exposure to the elements, is something we can control with the use of many things. The least of those is a simple, regular washing. Funny, if you read the owners manual of most RVs you will find the statement: Wash the unit at least once a year. We find this absurd. The family car we know should be washed at least once every other month, if not more, but the RV that costs 5 times more and is 4 times larger should only be washed once a year? So let's wash the RV at least 2 -3 times a year depending upon how the vehicle is stored when not in use.
How about a Wax job with some regularity? This can be done with any wax you should care to choose so long as you do it with some regularity...meaning, more than once a year. Keep in mind that most wax products, regardless of what they say, only last about 4 - 6 months at best. How about considering a cover? This is the absolute best way to mitigate overall exposure to the harsh elements so long as you understand that it is not a substitute for a good wash and wax but is instead an addition to the process of maintaining the overall value of the coach. As for Time & Neglect...well...do the above with some regularity and your efforts will help to mitigate the overall effects of both.
So, in short...will Carnauba Wax cause a Fiberglass surface to yellow? Nope, but I have no doubt you will hear the rumor again & again as you travel.