I never tried it, but I'm fairly certain it would work.
The only advantage as I saw it with nanoseeum, was the material weight, which at one time was lighter than any full weave fabric available to us. That's no longer the case however, so I no longer see an advantage other than price.
Disadvantage? Still less durable than a regular weave, probably much less so, since the mesh would be more likely to snag, and some fibers from the insulation might work their way out through the mesh, but I doubt it'd be serious. Regular No-see-um can vary in quality, weight and fineness of weave, which could introduce a lot of variables, so it really depends on the particular mesh.
Sorry, I know that's not a lot of help.