It would probably work for sealing, it has been mentioned by others.
But another reason for me trying wax was for storing the cuttings in a refrigerator. I store dormant cuttings with a small amount of Sphagnum Moss in the sealed plastic bags. The Toilet seal wax would create a mess in storage, it sticks to everything. The melted unscented Tea Candles are cheap, easy to use, melt at a very low temperature (below 140 Deg. F.), and I can dip and store hundreds of cuttings at a time,, with very little mess.
P.S. The tea candles are available at most Dollar stores and Department stores, maybe at HomeDepot soon : )