I used JB weld back in ~2009 or so. It held until about a month ago when it started leaking. When I pulled the transmission pan off, the JB weld was not even attached to the metal anymore. I'm guessing the constant heat cycles and different expansion/contraction rates caused it to separate over time and begin to leak.
I saw it as an excuse to finally break out my $99 Harbor Freight welder and attach the drain plug permanently. It doesn't look pretty (still a noob to welding), but it doesn't leak, either.
Whatever you put on the pan short of welding the nut isn't going to hold in the long run.
EDIT: Upon reading the rest of the threat, it would seem we had different problems. My leak was between the bottom nut (that the plug screws into) and the pan. If your leak is between the plug and the nut, then welding it or any other type of permanent seal would be counterproductive. Glad you found a solution, though.