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