Yarn sub for lacey mitts

So I have a big ball of Koigu KFM and was imagining it as lacey fingerless gloves. Then I stumbled upon the Wine and Roses Mitts. http://www.interweaveknits.com/preview/2006_winter.asp (scroll down a bit)

Do you think the Koigu would work ok for this? Or perhaps you have another pattern for some lacey mitts? Thanks!