Epoxy would do just about the same thing to that weird crack.
The stuff I always use is
http://www.westsystem.com/ss/epoxy-resins-and-hardenersYou can sand it down as well once it has throughly dried.
I have used it successfully in the past and there will never be any structural issues
in those parts of the wood again I reckon.
You just have to be a bit careful, it is messy.