Don't lock in moisture, it will rot the ply backing under the teak and then it will lift up more. Mine lifted in a corner of the cockpit seating. I dried it out during winter (easy with cockpit tent on) and then scraped out the rotted ply and stuck the lifting teak back down with adhesive sealant. Don't use epoxy - you will eventually have to remove the teak anyways and will hate yourself if you did use epoxy.
For recaulking, use proper deck caulking, such as Sabacaulk or TDS. I've used TDS SIS-440 (because it requires no primer).
On my boat it seems Bavaria used deck caulking for the seams, but some other black adhesive sealant for the edges. While the seams are fine, the edge sealant is UV damaged and is leaving black smears everywhere and I'm slowly replacing it, which is a shit job.
For minor seam repairs I've used a sharpened screwdriver of exactly seam width and disposable nailfiles.