You are able to apply Demon WP any time of year when you see activity or as a preventative treatment as long as the temperature is not at or below freezing when you are treating. Lady bugs are not specifically listed on the label, but Demon WP does treat for very common insects around the structure including spiders, cockroaches, boxelder bugs, fleas, and ants.
Demon WP Insecticide specifically states on the product label for Outdoor Flea Control only. It cannot be used inside homes for fleas. When Demon WP is used inside correctly for the listed insects it is only applied to cracks and crevices around rooms, along baseboards and cannot be used across entire floor surfaces where you would need to treat for fleas. Precor IGR would be a great part of treatment along with an insecticide such as Onslaught which can be used on carpets. We also have great guides here for identifying, inspecting and treating fleas to ensure you are correctly treating.
Demon WP should NOT be applied in a mister, misting system or fogger only a hand pump sprayer or backpack sprayer. We do carry products that can be applied for this application.