I just removed an edge 70 shaft (original) and the sealant was not red loctite. It as very hard and gray, no red. I am waiting on parts from minn kota job seem simple enough the key is obviously getting the new shaft started straight. The lower half of the treads look new the upper half have been cleaned but still don't real good.Minn Kota uses Red Loc-tite #271 with #7090 primer. It's also what Northland Marine recommends as well, so it's what I've used with no issues so far, and I've done several.
http://www.evin.nl/2005/interne links/minnkota/handleidingen/repair manuals/Lower Unit - Motor Assembly.pdf
There are some plastic materials that do not do well with loctite. If you use it as an adhesive for the trolling shaft, make sure the plastic armature plate is out of the motor until fully cured. The molded plastic armature plates from two Maxxim 55 motors "exploded" from the fumes and I am in the process of having to rebuild two brand new lower units. I have yet to know if using red loctite on the bottom half of the threads and a 3M 5200 urethane marine adhesive on the top half of the threads will work to seal the top of the shaft properly, but that is what I am using.Red loctite failed twice here, the first one lasted 3 months, the second one lasted 2 weeks. Trolling motors and bowfishing are just not made for each other