Jodystreeserv3,
True blue was originally develop as a climbing line or at least that is how it was first marketed, unless my memory fails me. To answer your question:
Pros:
Distinctive color, easily recognized and seen
Twelve strand construction deals well with abrasion
Relatively high stretch.
Hollow braid construction allows it to hold knots well.
Light weight
Cons:
Not Hand splicable. (a stitched splice can be used)
Flattens out under load making hitches cumbersome
Relatively high stretch
Hollow braid construction can allow some knots to get really tight.
As you can see some of it's pro's are also cons and vice versa.
It boils down to application.
Having said all that, I do not use it as a rigging line, but it is my favorite natural crotch rigging line or false crotch rigging line when I want stretch.
However, if a climber is comfortable on it as a life support line, uses it within its limitations and is safe and productive then knock yourself out!!
(Disclaimer: the above statement hold true for any thing from climbing lines to personal lubrication.)
Have I answered your question?
Tony