Well, if it works, why would you remove it? The vibe would be gone because of the presence of the tape.
It’s not a permanent mod. If you ever want to remove it, you can unscrew still; it just might take a bit more doing.
Just a side note: vibe isn’t the end of the world, especially in small amounts. I got a brand new yoyo that has a smidgen of vibe to it, and I actually like it. Dead smooth is nifty and all, but I find a smidge of vibe helps me to detect certain things like dying spin.
The tape goes on the threads of the axle. It’s really really thin stuff; plumbers use it to help create a seal in threaded attachments like shower heads and faucets.
You put the tape on the axle, you screw it in. It gives a few micrometers of “thickness” to the threads, creating a snugger fit.
There’s no 'taking it off" other than reversing the mod (I hesitate to call it a “mod” but my brain’s not functioning). If it doesn’t help, you unscrew the yoyo, unscrew the axle (again, it might take a bit more work than normal, but if you got it in, you can get it out!) and remove the tape. You’re back to exactly where you were before.
That’s somewhat of a poor idea since loctite is designed to not be opened up again usually. Even the less permanent kind of falls apart after some use.
loctite blue is designed to hold the bolt firm, but also not so strongly that it can’t be removed with normal hand tools. From the manufacturer website:
FEATURED PRODUCT
LOCTITE® THREADLOCKER BLUE 242®
Designed for the locking and sealing of threaded fasteners which require normal disassembly with standard hand tools.
I never said you could not use blue loctite - I said it is a poor idea because of the frequent need to reapply it and the waiting period it requires after use. I have used blue loctite before and from personal experience I’d say it’s not worth it.