I don't know enough to say why that would or wouldn't work in some absolute sense. But if we're comparing instead of talking absolutes, my first question to narrow it down is: "Doesn't superglue have some gnarly stuff in it? Stuff that you don't want in your body if an alternative like this exists?"
That'll depend on the exact type of superglue, but there's a more basic problem in that the standard stuff uses a cyanoacrylate that often is an irritant. So they use a slightly different variety in medicine, first trade name Dermabond, which was used the last time I got a bad enough cut. It's really good stuff, but as noted elsewhere, not so applicable for catastrophic hemorrhage.
