This product can be used to repair indoor hardwood flooring. Titebond III works well if there is a moisture issue near the door.
Ultimate is waterproof and for exterior or interior use. This is interior only and not waterproof. Premium is water-resistant and for interior or exterior use. So, my opinion would be to get the ultimate if you're using it in a place where water is an issue such as exterior applications.
It does not dry clear. Unless the sawdust is a dark / strong color, it will not change the color much. for that you need to use a powder dye. Hope this helps.