Looks like it's made for a much different different style of foam filter then a stock tw. I would think that goo would clog up the mesh screen in the airbox.
Edit: From what I've been able to google. it's used mainly on off road bike and atv multistage foam filters to keep it from wiggling off the airboxes solid base.
The TW airbox cover makes a decent seal without any sealant, I've seen them go underwater without leaking. If any air managed to leak under the cover it would still have to go through the foam filter.
If you have a stock tw air filter.
Degrease, clean and dry
Re-oil (with whatever brand you like) ,wring out excess oil and reinstall.
I extended my airbox drain hose to hold extra oil, if I over oil my filter again.