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I made a choker of the same design once to use in place of a whoopie sling but I stopped using it after considering the lesser strength of the design.
I would expect this setup to slip if shock loaded in some situations.
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I've made several for rigging and crane work. I knew at times they would be shock loaded, so I did a 2 fid bury. The only time I experienced slippage was during crane work while hoisting. One backsplice slipped into the bury about 2 inches. I think if the backsplice was not there, the end woulda pulled through.
I don't make or use em anymore.
For Cory's application (life support), it's absolutely worth testing. Hook in up to a dyno and see what it slips at.