Dave, you make my head hurt. As usual you are correct but I did it another way. If the bait sinks with two coats then that's too much. On balsa you will be fine with a seal coat and clear coat. You could go another route and use a different clear coat and I would suggest Flex Coat ultra v high build. It's thinner, longer working time, and uv stuff in it so the baits don't turn yellow. Devcon turns yellow from heat also, not just direct sunlight.
Check out the rod building finishes for a new clear coat.