I don't know how well it will work for that but I will put it on my list of things to try... While it does take up liquid it isn't as much as bread crumbs, it's more of a 1:1 than a 1:2-3 ratio like most grains.
I'll probably try it as a meatloaf without cooking it first and see what the texture is like. If that doesn't work try two will be making it into the "pilaf" with the basic microwave directions and put that into meat balls. So will report back as I try this, we bought several bags at Costco to use.