I'm just wondering if anybody has used this successfully on arcade electronics (and if it's a good alternative to solder). It's called "Wire Glue" Conductive Glue. I saw it at Thinkgeek: http://www.thinkgeek.com/gadgets/tools/b70c/
Conductive glue is useful for some things solder can't do (like repairing broken pins on vacuum fluorescent displays on pins), but it's too spendy for general purpose repairs.
It would probably work well for repairing traces on hybrid modules as well. I wouldn't trust it with anything that pulls a lot of current though. Resistance = heat and heat will destroy glues.
The resistance of that stuff is VERY high compared to solder. You don't want to use it anywhere that would matter. I would also be worried about it changing over time, AND I'm worried that you might not be able to get it off the next time you need to repair something.