The tool was a stop-gap measure back in the days when the metal ring on the pushrod tube was not fastened to the tube.
When you smacked the ring with the tube, the ring moved on the tube. It can't do that on the R65, as far as I know.
All you would be doing is trying to pull the tube out of the cylinder, and I don't know if that is possible, with the tool.
The leak is a pain, I know. I don't know if sealant will work or not.
Make sure every thing is clean, you have the correct rubbers for the Type 248 engine, and make sure you have them installed with the top "up".