Any solvent glues - Pliobond, Corkbond, white glue, marine glue, any other glue that dries by having any kind of a solvent evaporate from it suffers from two problems. First and most dangerous is solvent entrapment. The stuff dries on the outside but remains soft on the inside. The only grips I have ever had work loose were glued with Corkbond several years ago. I had to replace two grips that worked loose in the middle.
Second problem is shrinkage.
Solvent glues, including old white glue, shrink as the solvent evaporates. You glue up the grip, let it dry over night, then turn it on your lathe. It looks beautiful. Two weeks later the glue finally pretty well dries out and you find that it has shrunk at each joint, pulling it in toward the blank, making a scallop at each ring joint. I have a bunch of old rods I built back in the early 60's that I glued with marine glue.