Weeeeell, the glue is non toxic, so it shouldn't be harmful. And it probably does add a unique flavor and stiffen up the cheese.
So, while 1/8 of a cup is overdoing it, I wonder if this would actually work. If you served it to someone who doesn't know the magic sauce, would they enjoy the pizza?
And while the thought is pretty gross, you don't want to know what's going into a lot of other stuff you eat. What's worse: eyeballs in hot-dogs or glue in pizza? Potentially explosive chemicals in Cola? Thickening agents made from seaweed or human bones (at one point in yogurts)?
Our food is full of stuff that are probably a lot less safe and more disgusting, they just aren't advertised.