This is pretty much correct.
The strength and main seal on the aquarium is found between the panes of glass. Some information I found suggested that some tank makers actually use a silicone ADHESIVE instead of a SEALANT on this joint, and then use a standard sealant inside corners. My research seemed to suggest that this adhesive was actually momentive RTV, but not 100% on that.
The inside seal is there to add a VERY small amount of reinforcement, but mainly to protect the main seal from damage/minute imperfections that would allow water to ingress and start a leak.
Momentive 103 is the black version, 108 is the clear version. Exactly the same properties otherwise.
Removing the interior seal and re-applying is totally fine. Once the main seal between the glass is compromised and the tank is leaking, the ONLY way to actually fix it is to break the tank down completely, anything else is just a bandaid.
Breaking the tank down completely is a MUCH more daunting task, and on a larger tank (anything 55g+ for me) I wouldnt even think about it, just get rid of it on craiglist to someone with reptiles/rodents, or cut up the glass and repurpose it as a small tank.