The problem is the thermal conductivity, which is less good due to the thickness of the material, compared to a good thermal compond.
Also, the adhesive has a stricht range of operating temperature and humidity. Once exceeded, this may detach or the thermal conductivity may decrease in an unspecified way, as the datasheet does not give any information about this, what is expected graceful or catastrophic failure.
So, I see no chance to just use this for easily mounting stars to pills, for example, at least not for a quality build.