There is nothing wrong with using blue or even red to lock threads on the tiny screws. The problems will occur if and when you wish to remove the screw. Blue is stronger than purple 222 and you run the risk of twisting the screw on removal. Red if done correctly will require heat and even then, on such a small screw will possibly end up twisted or even broken screws.
There are 2 types of each and the first of each colour require proper thread cleaning to work correctly. The second type can be used regardless.
When using thread lock make sure that you only put locker in the bracelet thread(female) part.
If you loctite the screw the risk is that excess loctite will secure it to the center link and when dry the movement of the link will rotate the screw in the thread.
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