Having been in the residential building biz for some time I think I have a decent understanding of OSB and associated properties. Can you cite some resources for coating failures you mention? Products like Zip sheathing and Advantech subflooring have a fairly long track history at this point. I have a workbench top that is OSB coated with Shellac and it's showing no signs of coating failure.
My point about MDF was to demonstrate that while we may think of it as so dense as to be "air tight", that's not absolute. I'm confident I could accomplish what I suggested but would agree that time and material spent wouldn't represent a good value. I do unusual things so I can learn and see for myself.