I have been using Dow Corning 4 Compound, "a silicon dielectric designed to meet MIL G-8660B, Amend.3" on everything rubber on my cars for the last 40 years. That includes using on the NSX coil packs for the last 12 years, with excellent results, including no moisture in the spark plug wells.
Note that I think the first letter is a "G", but its a little hard to read on this 20 year-old 5.3 OZ tube.
Unfortunately, I haven't seen a tube of the pool stuff Larry uses so I don't know if its a good dielectric.
BTW, we used the Dow Corning stuff at Bell Labs in high voltage electrical circuits that had to survive 20 to 40 years in the outside environment without maintenance. Its -57C to 204C operating range is good enough for all my cars. :biggrin: