TB3 is Titebond 3 and it is slightly stronger than carpenters glue.
I find it quite a BIT stronger than regular carpenters' glue, and Titebond III is almost all I use anymore, along with reinforced superglue for things like nocks and overlays, unless I have a special application where I might buy a tube of epoxy.
There are three keys to using it properly, in my experience. One; because it still has so much water in it, thin lams of some woods will "cup" side to side when applied, which is difficult to deal with without LOTS of the right types of clamps. The cure is wiping down the wood with a wet rag ahead of time and letting it dry thoroughly.
Two; it really doesn't fill gaps well, and I fixed that by doing a dry run, clamping up the bow without glue to look for spots that might give you trouble. I have even had success gluing small shims of hardwood veneer in to build up a spot that's stubborn to come down all the way with clamps. I sand it smooth and check again.
Third, I have found that I get best results using a "sizing" coat of TB III, slightly thinned with water to about the consistency of house paint. I paint both sides of the mated surfaces, let it sit a second, and them smooth of the extra with a popsicle stick BEFORE it really dries. Then, while it's getting pretty dry, but is still sticky, I slather on the regular glue and clamp it up. This gets messy, but TB III is cheap. It also sometimes reveals issues with warping and cupping, as I mentioned.