Thanks very much for the information. Think I'll give using it a miss on this occasion - too many fine tolerances to ruin with even a small amount of expansion.

It is definitely waterproof and strong however it expands when drying so if I were you I'd make up some test pieces to try it out before using it on anything of value. I've used it in a marine environment and found it worked well but it wasn't pretty. Also it goes bad if left too long so don't purchase a large quantity. Unless you intend to use it in the not too distant future.