The biggest problem with using this on a quilt is it's very easy for it all to come undone. I can just see a child picking at the thread and - wow- where did all the thread come from? - opps, the insides are showing now! It is just a chain stitch.
I think it would work for a wall hanging if you wanted to fold the front over to the back and have no edge seam showing - which is about the same as you do on the sides of draperies. We used one on sheers to heavy fabric with lining, so I bet you could use it one a quilt.