Nothing would change....I still would recommend it. It can be used on a non-beadlocked wheel as well. It not only prevents the tire from popping off the bead but prevents the tire from spinning on the wheel resulting in a road balance prob. This means no need to spend more money to re-balance the tires.

Polyurethane roof flashing compound from Home Depot is what I used. I imagine the stuff you show there would work equally as well.
For me, it was a life saver. I had beadlocks but the lock was on the outside only...my issue was that the 36" Super Swamper TSL's would loose air on the INSIDE bead all the time. I think the issue was due to a very thick and stiff sidewall coupled with a "not so tight" fit of the bead onto the rim.
The solution of the roof flashing compound eliminated the problem 100%.

Then I started thinking...why even bother with expensive beadlocks and use this on both beads? A poor man's beadlock.

PROCEDURE---
The sealant must be applied correctly otherwise it might not work to spec....
1---Use 30 grade sandpaper and rough up rim surface. Apply sealant.
2---clean tire surface with starting fluid or similar to "soften/clean" rubber. Apply thin coat of sealant.
3---assemble rim/tire. Drive as usual but allow 1 week for full cure of rubber before severe use.

Someone should try it out.... and document the procedure.
ZUK