Re: Can I rescue this section of LIDO teak CB cap?
I have rescued teak that looks that bad - it'll never look as good as new but it's amazing how good it can look. This is what I would do:
Sand it a smooth as possible and collect the sawdust.
Clean out the cracks as best you can with a brush.
Give the whole piece a coat of epoxy working it well into the cracks.
As CalebD said, make sawdust/epoxy paste and fill the cracks.
Then it can be finished. I would apply two coats of epoxy followed by four or five coats of varnish. I've never used Cetol but any UV resistant finish that protects the epoxy would probably do the trick.