By itself, Versamark won't hold glitter on, as you found out
It will hold heat and stick powder long enough for you to melt it with a heat tool. Then, while the heat and stick is still melted, quickly sprinkle glitter over the top. Tap off the excess and voila!
You can also do the same melt and sprinkle technique with embossing powder instead of heat and stick. Or you can pre-mix e.p. with glitter (or buy pre-mixed like SU!'s irridescent ice), but it won't be quite as glittery.
Personally, though, I love the 2-in-1 glue pen for adding glitter touches to cards and other non-scrapbook items. No heat tool needed, and the glue pen gets into tiny places easily.