Its a liquid glue with a ball-point dispenser for the most detailed piecework.
It's called 2-Way glue because it works 2 ways.
#1 - use it when it's a blue liquid straight out of the tube for a wet bond that adheres instantly.
#2 - apply the glue, then wait for it to dry to a clear, tacky finish. This allows it to be repositionable for a few minutes until it dries completely, and removes the risk of smearing the glue when placing intricate items.