Hypoid, is a shape of a gear. So yes, gear lube can safely be used.
"A hypoid gear resembles a spiral bevel gear, except that the pinion is offset so that its axis does not intersect the gear axis; it is widely used in automobiles between the engine driveshaft and the rear axle. Offset of the axis of hypoid gears introduces additional sliding between the teeth, which, when combined with high loads, requires a high-quality EP oil."
(Exxon/Mobil Oil Encyclopedia)
Gear lubricant is meant for all types of gears. It is also available in many grades, most of which are suitable for use with hypoid gears.
EP = Extreme Pressure
GL = Gear Lubricant
The number that follows is the rating. GL-5 is common, and GL-6 is becoming more common.
"GEAR OIL GX also is the correct choice where equipment manufacturers such as Clark,Chevrolet, Dodge, GMC, and Mack recommended API GL-5 lubricants for manual transmissions.However, other manufacturers—Ford, Fuller (Eaton), International Harvester, Spicer, and Warner Gear—prefer engine oil for manual transmissions. GEAR OIL GX should not be used in these units."
"API GL-6 Service
API GL-6 gear oil, represents a 12-15 EP score level of protection, compared with 10 minimum for MIL-L-2105D, and is generally equivalent to that specification in other respects. Recommended by Ford for use in their cars due to the high offset (2 1/4") hypoid." (Hear that Geoff?

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(Exxon/Mobil Oil Encyclopedia)
Ok, enough technical stuff... If it's meant for hypoid gears, it's what you want to use.
~Chuck