That's what I use for scope installs. Threads (commonly) are #6-48 and will hold rock solid with the blue, no need for red there (or most places really).
One tip, use VERY sparingly, use the tip of a toothpick to apply, you DON'T have to use a whole drop or cover all of the threads, a very little bit goes a LONG way. If you see blue oozing out of the holes when you install, there's too much.