I glued up a test with 4 thin laminations of 3 x 12 red oak with Weldwood Plastic Resin glue and set up in jig to cure with a bend radus. I let soak in a bucket of water for 2 days. When removed from the water, I can detect no degradation of the glue bond whatsoever. The squeezout glue seems unaffected, hard a rock, and the wood to wood bond of bent lams are solid and exactly before the water immersion.
Based on this I see no reason not to use Plastic Resin Glue for an outside chair project.