Has anyone bought any of this and given it a go in one of the cheap label makers like they keep doing the rebates on? 

I have bought numerous colours of the TZe tapes off aliexpress and they all work fine, but I was thinking of labelling my cat-n cables and coax runs with where they go to, and some heatshrink would be a cool way to do it, rather than sticking a label on and hoping it remains.

There is no heatshrink option on the cheap labellers unlike the electrician grade ones, but they do list them as compatible but it might just be a copy and paste thing the sellers do.