My sense is that transdermal is more effective. I've only just tried the CL, I've been using Bluebonnet liquid as transdermal until now. I first started transdermal earlier this year, after I'd done some other things, including detox. So when I found I was getting folate deficiency symptoms, instead of increasing folate, I dropped the B12 dose by a couple drops. I can't definitely say that transdermal also meant I needed less.
ETA: I've just realized that i went from 5mg B12 sublingual to half that, and then a few drops less. So I'd say, Yes, transdermal's more effective. for me.
However, I can absolutely attest to transdermal being more efficient for FMN. I decided I'd try that too, get away from all the sublinguals. It turns out I now need only 1/2 tab a day, instead of a full one. I'm now dividing that 1/2 tab into 2 doses. I pulverize the 1/4 tab, sprinkle it onto a blob of lotion, and come back later when it's dissolved, put it onto skin. FMN (r5p) was terrible to spread on my skin, very yellow, so I put it on a cloth and wrap onto my arm. Just a small spot. I've been doing this 2-3 days now, it's excellent.