If there are loose parts, it can be re-varnished. Urethane or alkyd varnish will work in a pinch, or superglue (if it doesn't run hot) or epoxy, or there is a proper electrical varnish that they use.
I would not recommend indiscriminately dipping it in goo, as it's not likely to change anything, loose material is likely to be visible, and you may simply make things worse.
You aren't likely to find an equivalent inductor, and rewinding would be full-custom, including counting original turns, and getting the air gap right.
If the design peak current, RMS, and inductance are known, it might be replaced by a lower-magnetostriction material, but that leaves several unknowns.
Tim