I've used it for years with good success.
I've used it on wood, aluminum, carbon and on wraps without problems.
The surface must be clean to start with. Put the feather in the jig. Lay the tape on the quill straight, press it down good, snip tape with scissors. I use a long, sharp, HAT PIN to lift the end of the tape backing, then lay the jig on to the shaft, remove jig, run my thumb nail down the footing on the quill to insure a good bond, then using pressure, press down on the feather from end to end. After all fletchings are on the shaft, I put a dab of glue on each end of all feathers.
It gets pretty hot in Texas during the summer and I haven't had a feather come loose yet.
Last week I built a dozen wood arrows. The tape I used was at least 2 years old. In my experience, shelf life isn't a problem with fletch tape.