The use I saw for Anchorseal is to slow down drying at the ends of freshly cut timber. A reasonably volatile paraffin would then fit. The booze contains polymers too.
I just wonder why make an emulsion, rather than diluting with a lighter, more volatile paraffinic solvent. "No solvent" is a sales argument for Anchorseal, but their C13-C14 will evaporate too.
Beware "wood alcohol" is a poison, methanol. Just don't sniff it.
Egg yolk stabilizes water emulsions too. No idea if it rots.
Rotting is a general problem of emulsions, and you don't want that at timber. A soap like Rolnor proposed could combat rotting.
WOW: use turpentine to dilute your paraffin. It's a solvent, it's volatile, but nobody will reproach you putting turpentine on trees nor evaporating it in a forest. Ha!
Perhaps rosin could replace the paraffin or the polymer? That would be sort of green and natural! You need some residue that isn't brittle, perhaps rosin dissolved in a heavy liquid hydrocarbon.
The combination would amount to add just sap at the freshly cut ends of timber. Among the many components of sap, find the ones that evaporate at the proper pace and are cheap, recombine in proportions that give the desired fluidity. Or check what the paper industry offers as by-products. For instance myrcene dimerizes readily, maybe the C20 replaces the polymer.