I don't think contact cleaner is a good idea, because AFAIK this encoder in the MPC 4000 is an optical encoder - there are no contacts in it at all. A small LED shines onto a reflective disc that is attached to the shaft that you turn with the knob.
Looking at the picture of the encoder that MPC Stuff has it sure looks like an optical encoder (large square body with 4 wires). The mechanical encoders have a much lower height body and only 3 wires as they don't need a voltage source to operate like an optical one does.
Although, I guess if the encoder is stuffed then it isn't going to get worse by spraying some cleaner in.
The jog wheel that you turn should just pull off like a volume knob does, it isn't soldered on or anything. The problem here is how to get hold of it as it sits flush with the cursor controls. Then there should be a nut about 10mm in size that is holding the encoder with it's little circuit board into the front panel. Once that nut has been loosened off and removed the encoder should be able to be dropped out the back of the top panel.
I can't work out from the service manual whether you can get the encoder out just by opening the MPC up like normal or maybe the whole top panel has to be removed. Maybe to even pull the jog wheel off you have take the top layer off the front panel. I don't want to try and pull my jog wheel off because the encoder is not in great shape either so I'm being as gentle as possible with it at the moment.
A quick search using the part number from the service manual finds this:
http://datasheet.octopart.com/REC16B25-201C-Copal-datasheet-38473.pdfSo definitely an optical encoder (which is great because they last way longer than the mechanical ones). This means that using cleaner in it will bugger it up even more than it is already.
**Edit - I found some of these optical rotary encoders for sale around the $18 to $20 mark, so $50 from MPC Stuff with the PCB and wiring already on it is actually a pretty good deal IMO, particularly if you would have to get a tech to solder in the bare encoder for you.