Tape caulk alright?

My shower needs to be regrouted where the shower pan meets the tile. Or maybe it needs to be recaulked; I donno. But it had needed to be done for a while and I have put it off since I don't know what I am doing.
I picked some tape caulk up on clearance at HD. It is a perfect color match. It might not look as good, but who looks anyhow? Will it stay in long enough to bother putting it down? Anyone use this product? "Tub Surround Seal" by Magic American.
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1960 iron tub has that at the base of the mud-bed tile walls, and I haven't been ambitious enough to tear it out and redo it correctly since I bought the place 15 months ago. I just hit the corners and other gaps (where I tore the triangle shape splash diverters out) with squeeze-tube caulk, and the whole thing has held up since then with daily use. (Previous owner didn't use that shower due to faucet problems that I had fixed.) Like any adhesive product, prep work is half the job- clean out all the debris and soap scum with a toothbrush and your favorite cleaning product, and dry the area with time and/or a hair dryer. Nothing sticks to soap scum, especially wet soap scum. IOW, you already bought the stuff, may as well try it- all it will cost you is time. If it lasts a year, that will give you time to buy a DIY book or find a website, and learn how to redo it properly. And unless the wall is actively leaking, you won't be any worse off than you are now.
By the way- you do wanna look in the space below that shower, and see if it is leaking. Spotty or mushy drywall on first floor if this is a second floor bath, or dark/mushy wood or streaks in the basement or crawl if it is first floor. If there has been enough leakage to damage wood, start saving up for a bathroom gut job. You may be able to stabilize it for awhile, but the floor will start feeling mushy at some point.
aem sends...
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pan goes up under the tile; as it should be leaking otherwise.
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