Looks like HoW did use magnascent. Much painting has been done using Lugol's, as well. Iosol could be used -- you may just have to try some other versions if you want to find out both their effect and their drawbacks. Iodine can be pretty irritating to skin when used on the same spot, by itself. Iodine in an oil -- castor oil, olive oil, sesame oil, & many others -- might modify that irritation. That's what makes Wombat's iodine skin products so darn good!
Iodine itself, painted on a localized area of pain, is also an excellent pain-killer.
I was afraid of the stinging I'd feel after severely burning my finger in boiling oil. The burning from the oil actually went away over 95% - instantly - after painting my finger with (magnascent) iodine.
When I broke my baby toe (for the second time in a week) it hurt so much it made me cry (and physical pain does NOT do that to me). I painted my baby toe with iodine.
Again, within about 5 minutes' time, pain was over 95% gone!
Pain behind knee was painted. Iodine worked again.
As an anti-inflammatory to a localized area, iodine painted on works great!