5200 might hold it, but I wouldn't trust it.
I don't know what would hold it. I would just drill holes in the transom and slop em up them really good with 5200 - water will never get in.
Also, filling the holes is an easy fix if you ever feel the need. Just do the old golf-tee-coated-in-expoxy-and-cut-the-top-part-off-flush trick. It will be an easy job than patching holes in aluminum or getting off whatever adhesive you might try to use.
Blue's .02
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1994 Wellcraft V21
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