Wood hardener on living wood cracks and flakes off as the tree grows. On dead wood, wood hardener seems to preserve for a while, but it seals in moisture, eventually the dead wood behind the wood hardener continues to rot, the hardener gets cloudy, becoming obvious and then flakes off.
Lime sulfur preserves wood by killing wood rotting fungi, but it is water soluble, needs to be re-applied regularly and does bleach out the lignins (color) from the wood. It is the "proven technique" long used by Japanese and others.
Painting deadwood with linseed oil will restore natural oils to the dead wood. Paint deadwood with linseed oil (purchase boiled linseed oil from house paint department of box store). Let wood absorb oil, reapply if wood looks dry next day. When wood looks moist next day, enough oil has been applied. A few weeks the appearance will look quite natural. Can even treat with lime sulfur after surface of wood has appeared to dry out. Linseed oil restores the natural oils to wood to some degree. Helps with long term deadwood preservation without using wood hardeners which create a plastic shell.