Yeah, it works. I know some folks that have used it to ferment malted corn for pure corn whiskey, without barley. Brewhau.com sells it.
The thing with the powder is that it is only one aspect of the mash. You won't get the Beta action and... whatever else is going on in the mash... So, it tends to create only one type of sugar. I say give it a shot! Keep in mind that Alpha works best at certain temps, so you're going to end up with some residual sugars if i remember right (high 150's)