IS BLUE LOCTITE OK FOR CONVERTOR AND FLEXPLATE BOLTS?

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Clean and dry the threads first. Brake cleaner.
You use a drop or 2, don't soak all the threads.
 
Check out the recently released Orange loctite. It's between the blue & red level hold.

As rightly mentioned above, clean threads well before using.
 
Blue is for any fastener that you may want to remove later. So yes, that's the type fasteners it's made for.
 
I've been using red loctite for years with no issues upon dis-assembly. I've since switched to the orange mid-grade loctite, just in case the red is too much.
 
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