I don't think toilet seals are bees wax. They're a synthetic. I have no idea if they'd work but I suspect that they'd stay gooey forever, just like they do under a toilet. I suggest trying it on a worn out pair of boots instead of a $200 pair.
Toilet rings "USED TO BE" beeswax at one time. Correct that they no longer are.
I think they are some sort of polyurethane material now.