I just replaced the rubber o-ring. I had the heater core out, cleaned and pressure-tested.
I cleaned the valve cock, fitted o-ring and lubricated it. Then, I inserted it into the valve body. I pushed it in a little hard, it went all the way inside the valve body. If I had pushed the cock in any harder, it surely would have fallen into the core body making its retrieval almost impossible. Fortunately, I had a long 4mm bolt screwed on the cock. What surprised me is there is nothing to stop the cock from falling into the core body until you attach the metal cover plate (metal piece with a stop ear tab and a square hole in the center) to the cock.
Attaching a 4mm bolt is a great idea. Also, do not push the cock too hard, just enough so that the top of the cock in just below the slot cut in the valve body so the metal cover plate can be installed.
Thanks,