I tried the Titebond Molding and Trim Glue but wasn't happy with the results. I agree it does give a thicker fillet than regular white or yellow glue. It just set up too fast for me.
I would get small (half set-up) blobs from the nozzle when applying new fillets. So, be sure the nozzle is clear between applying fillets.
You'll only want to do one fillet at a time, smoothing quickly after applying. This glue seems to start hardening up as soon as it leaves the bottle.
I tend to wipe down and smooth a fillet (maybe) three times. This assures me that there isn't any glue left outside the fillet area.
With this glue, I found I couldn't smooth the fillet more than once without roughing up the setting fillet.
The moulding and trim glue wasn't the ultimate fillet glue for me. But everybody has different methods that work great for them.