I don't think any bolt/screw will make an airtight seal by itself. I recommend adding some weather stripping then t-bolting the driver/terminal cup/whatever else down. That will make it airtight!
If the whole size for the T-nut is just larger than the t-nut insert pin (for lack of a better phrase) and there is pleanty of wood for the the T-nut to grab on to, then yes, it's pretty air-tite.
When you seal the driver use the smallest stuff you can find from Home Depot or lowes...and stick it to the cabinet. That way you can remove the driver some day and not have foam stuck to it...kinda ugly, reduces resale value.
Oops, sorry Armen. I would have to agree with Scott that the screws will make an airtight seal. But if you pre-drill the holes for the t-nuts, don't make the hole too big. Then there will not be an airtight seal!