I also use the wax ring method of mounting my transducer and it works well. It was intended to be a temporary fix 4 years ago. It can however be messy. I think that next time I will use paraffin. As a kid I used paraffin (candle wax) melted in a coffee cup over th stove to wax my surfboard.
A few years later they came out with sex wax that was a little softer for surfboards. If you set up a dam using the plumbers putty (not wax ring) and pour in the liquid paraffin and float your transducer (holding it level) until the paraffin hardens. The hardened paraffin is a hard wax and will not transfer when bumped.
FYI: I was told by the Coast Guard a while back that the wax ring is good for plugging most leaks. If you work it into a rag first and then jam the rag into the hole, it will stop most leaks. That temporary fix worked for me five years ago an it still there.
