I have found that putty on mono or fluorocarbon hooklink materials can be a pain to make stick, especially bigger lumps. It will stick to braid, as long as you work it into the material, and it will hold around any knot or on tubing or around a swivel.
It is ok to mould around shrink or silicon tubing over the eye of a hook, like on a Ronnie rig.
I used mouse dropping pieces on a black Amnesia boom to keep it flat, even after a year or two in the rig bin (I have a few booms still tied), it would slide quite easily.
As much as I like putty for exact balancing or overweighting, it has limitations; especially since you can't use it in waters with crayfish in as the little gits actually sit picking it off.
My preferences are for weighting down are tungsten beads, olivettes or if it won't damage the line, split shot.