GW, I'm sure oiling would keep it from sticking and sealing. Cured RTV should hold any pressure a siphon develops (I'd trust it for 2 atmospheres) and the stuff is easily cut with a penknife, so worst case you'd cut the fillet off the joint and spend 5 minutes scraping off the residue.
It may not work for you, but I guarantee you will be able to remove it easily. It's the putty equivalent of duct tape - versatile and non-destructive..