I think Andy is right to be cautious. It's always a good thing to think these things through.
I watched the video of the bloke sealing his spokes and I had to wonder about the wisdom of putting the rubber band back on over the top of it all. Without a pressurised tube to hold it in place, it may not be tight enough to overcome the G-forces of the spinning wheel. If you do put the rubber band on, it would be interesting to see if it has shifted around the wheel when you next change the tyre. If the valve hole has moved away from the valve, then the band has probably been flapping around inside the wheel. That doesn't seem like a useful thing to me. Especially if it breaks and ends up bunched up on one side of the wheel.
Edit. Some time later ?
OK, rather than wonder about it, I just did the calculation. At 100kph, the rotational acceleration force on that rubber band is about 400G, so I reckon there's a pretty good chance of the rubber band NOT staying in contact with the rim. That figure is approximate because I guessed the rolling diameter of the tyre at 600mm and the diameter of the well in the middle of the rim at 450mm (18" rim) because I don't have one lying around to measure. But it's close enough to show that the centrifugal forces are not insignificant. If it were me, I?d leave the rubber band out. I reckon it'll spend some of its time pressed against the inside of the tyre!
Incidentally, that 400G force also applies to the sealing system, so my advice would be to keep the blobs of sealant as small as possible. The heavier they are, the greater the centrifugal force on each blob.
Let's say you have 2.5 grams of silicone over each spoke hole. At 100kph, that 2.5 grams becomes 1kg of force trying to pull each little blob off the rim (let?s not get into the mass vs force argument ? you know what I mean). You only need one of them to let go enough to leak and you've lost tyre pressure. Note that the force increases with the square of the speed, so if you get bored out in the middle of nowhere and crank the poor old bike up to 200kph, then there's 4kg of force trying to pull those silicone blobs off. How sticky is that tape?
On the other side of the coin, you have pressurised air on the inside of the tape. So that air pressure will help to hold the tape in place. Let?s assume the silicone blobs are 1 cm2 in area and you inflate your tyre to 35 psi, then the tyre pressure will provide a force of 2.5 kg pushing each blob back against the rim. That?s good news because it?s greater than the centrifugal force trying to pull it out at 100 kph.
But remember the square of the speed thing? The centrifugal force increases exponentially the faster you go. Using the assumptions above, it becomes equal to the air pressure force at about 160kph. Beyond that speed the centrifugal force exceeds the air pressure on top of the silicone blob and you?re relying on the adhesive properties of the tape and sealant to hold the sealing system together.
The centrifugal force thing is a whole lot more dangerous if you break a spoke. The busted end of the spoke I going to have a lot more mass than a wee little blob of silicone, so the centrifugal force could be enough to spear it straight through the sealing tape. I suspect an inner tube would be better able to withstand the centrifugal force of a broken spoke because it?s thicker and more pliable than the tape.
Not trying to put you off the tubeless idea Marty. I assume the sealing system has been well tested by others. It's just that I think it pays to know what you're doing when you embark on any modification.