It's worth a try, but I suspect that it will pulverize the grain and shred the malt husks way to much. A better option might be to sell that baby on ebay and use the proceeds to buy a malt mill designed specifically for the task. I'm not familiar with that particular coffee mill, but it looks to be in fairly good condition and it's a real burr mill too. I bet that some collector or coffee geek would snap that up for $100 or maybe even more. See if you can decipher the manufacturers name and any specifications from the markings. Use the googles to see what info you can dig up on it. It may be more valuable than you think. Quality, high capacity burr mills are expensive.
You might have some luck contacting these guys: http://www.coffeehouseinc.com/acme.htm
That's the association of coffee mill enthusiasts. These people appear to be even crazier than home brewers!