Yes, absolutely. No rivets = no rust.
I do the same with the A-post capping strips and the capping strips at the rear. Also on the plastic chrome strips over the wheel arches and along under the doors.
Also on the MK.1 I use it to fix the door bin cappings and the rear bin cappings.
If at all possible I avoid wheel arch extensions as the fixing holes cause rust to start. Up to a 4.5" wide wheel, no arch extensions are needed and a 165 section tyre is fine on a 4.5" wheel.
I have never tried it, but I have heard of aluminium door skins and an aluminium or carbon-fibre roof panel being held on just with Tiger Seal. That would be good if it works (and I think it probably does) as it provides not only a strong fixing, but a buffer between the different metals and a flexible joint to allow for differential expansion. Has anyone on here done this?