What temp is the epoxy good to? My guess is you underestimate the temp in the exhaust system. Unless you got something good to 1000-deg, it's probably not enough.
It also has to be fuel rated. Most epoxies aren't.
This company sells something that might last for awhile....
http://www.cotronics.com/vo/cotr/newprod.htm
Two years ago, I used 2300-deg 907GF (I think) to redo some custom sidepipe muffler packing in my vette sidepipes. AFAIK, it's still in place. (I used stainless screen to hold fiberglass in a sound chamber....with this 2300-deg stuff as the holding agent.)
OTOH, you could have an exhaust shop weld another bung in it's place....and be done with it.
2001 Ebony VX and 1989 Custom 383 Corvette