I have suffered for years with excessive ear wax! The best method I have found is a 50/50 mix of the hottest water you can stand, with 70% Hydrogen Peroxide.
The solution your suggesting ends up as a 35% solution of Hydrogen Peroxide. That seems like plenty enough to really irritate your ear canal. It's actually 10 times greater than is recommended. I'm just surprised that's all. You don't seem to have any bad effects.
Regards,
barts