I'd bet against it. It seems to hold up well against abrasive tools, but an aluminum foam with ceramic balls embedded in it doesn't sound like the recipe for an all around robust lock shackle. How would it stand up against bolt cutters (shearing cuts, not abrasive cutting), a manually operated hacksaw, or impact? A hacksaw might have the finesse to thread the gap between the ceramic.
My guess is that the hacksaw wouldn't work particularly well, but the bolt cutters or anything else that just exerts a strong, steady force without much motion should work. At that point, it shouldn't be any stronger than just regular aluminium.
