I looked at projects others at Ravelry have done with that yarn. There aren't a lot, but several are shaws.
I think there were 2 clapotis projects. Personally I'd worry the rayon yarn would not hold the stitches on either side of the dropped stitches on that pattern. You could PM those knitters to see if they had issues with that.
You could try finding other rayon yarns in the same weight and see what projects have worked well with them.
Very pretty yarn!
Mirl56 at Ravelry, too.
Learn from the mistakes of others. You canít live long enough to make them all yourself. Eleanor Roosevelt
Lady Feb Sweater
more shawlettes, socks