Yup - I have a can of it that will most likely last my lifetime. Not very expensive - you can find it quickly on the internet, a Loctite product if I recall. Lyconign specifies a number of lubricating and sealing products, and I finally decided that while it might seem silly to use what the factory recommends, in them overall scheme of things (cost of an engine), using what they suggest is pretty cheap.
I think they told us at Lycoming school the "why" of the food-grade product, but for the life of me, I don't remember.