Here's CASA's (Civil Aviation Safety Authority) view on wood glue:
7. ADHESIVES
In line with other materials and processes, adhesives for timber and plywood are not
approved by CASA. The onus is on the end user i.e. the manufacturer or repairer of the
aircraft or product to be satisfied that the adhesive is suitable in the particular application.
a) Be satisfied that the adhesive is suitable for the application, i.e. waterproof,
non-elastic, not corrosive to the wood fibres, not subject to fungal attack etc;
b) Is recommended by the adhesive manufacturer as suitable for wood gluing,
and preferably (but not usually available) as recommended by the adhesive
manufacturer as suitable for aircraft wood gluing;
c) Is manufactured in accordance with a suitable recognised standard;
d) Is used in accordance with the adhesive manufacturer’s instructions as to
shelf life, mixing instructions, spreading requirements, pot life, clamping
requirements, temperature and humidity limitations, gap filling properties etc;
e) Be satisfied with the documentation received with the adhesive;
f) Do whatever goods inwards inspection and testing the user needs to be
satisfied.
The following adhesives are commonly used for aircraft wood gluing:
a) Resorcinol Formaldehyde Synthetic Resin Glue
b) Urea Formaldehyde Synthetic Resin Glue, and
c) Epoxy resin Araldite AW 134 and Hardener HY 994.
Any worthwhile adhesive could be used, especially if supported by history of aeronautical
use. New adhesives are still being developed.
The use of a different adhesive to that specified in the approved design data of a
certificated aircraft requires modification approval.
Found here:
www.casa.gov.au/airworth/AWB/02/011.pdf
Therefore, if the user can prove that the glue selected is suitable, it can be used. Note, though, the certificated aircraft requirements. Could be a trap for unwary players.