Is there any data on T cream and loss of sensation? For now, I'm switching to applying it elsewhere, but I don't want to lose my regained sensitivity... It's so confusing!
Only anecdotal. Even then, I'm not sure there's any proof that the T cream did it. It's just a prudence thing, IMHO.
Allowingtoo, who posts over at my site (occasionally here too, I think) switched to Testim and obviously applying to the hip. (I think the hip anyway.) Testim is alcohol based which probably wouldn't be too pleasant directly to the genetalia.

I know she wasn't applying to the genetalia.
She felt that sensation (and libido etc) was *diminished* when applied to the hip and felt it wasn't as effective. She abandoned Testim and went back to a compounded product applied directly to the genetalia. So, that's an example of someone who used it directly on the genetalia with good success and with no side effects.
I do know that I've heard some concern from providers who do use topical T creams that they feel somewhat uncomfortable using directly on the genetalia - for the reasons mentioned above.
So, clearly some use it directly on the genetalia with good success over the long term, and some providers feel at least some concern using it that way. I have never seen any evidence of it being a problem. However, if you could get good results applying elsewhere, and any additional benefit from applying to the genetalia was minimal, then why take any potential additional risk for no or very minimal benefit?
Just my $0.02.
Best wishes,
Greg