It probably will work for the proposed application but you will need to pay careful attention to the grounding configuration. Also see below!
If the armor is stretched enough to force ground currents to flow around the armor in a spiral fashion, it will become a pretty good inductor, which could pretty much negate any advantage, maybe even turn the armor into an antenna and make problems worse.
In my experience, trying to use some product for something it wasn't specifically designed for is a darned good recipe for future problems, perhaps ones that are hard to track down: and, once the stuff is installed, difficult and expensive to replace with the "right" stuff.
Another possibility: the situation changes and the cables now are being used for some other application, which may be even MORE sensitive to EMI. Plan for the future.
At my old company us "office plankton" used to say that management was willing to send a dollar to save a dime. You don't need to prove that axiom to be true. Save yourself some potential headaches down the road.