It has worked for me, although I reserve it for my old-since-teens beat favorites. I've read page after page of online discussion of this method and have never read a single mention of a stylus or cantilever actually having been damaged. When you see how the Titebond II behaves on the record, this is easier to understand.
Wood glue method of record cleaning
Anyone ever try it? Sounds interesting but I'm afraid of any residue left in the groove ripping the stylus off the cantilever.