looks very promising and if it performs how they say it will then I cant see why you couldn't hide something that small on a busa? However it appears to not have gotten off the ground yet, beta testing is 1 thing but I would wait and give it a little while and see if it performs in the real world for an extended period of time 1st
I see that it uses Bluetooth 4.0 (low energy setting to reduced power consumption) and it has a range of 160 feet so once you mark the item as "lost" anyone who has the app that comes within the range of it will automatically send a message of the location of the TILE.
Apparently it will be a community based and supported item.
Not as sophisticated/powerful as as an actual GPS device but every little bit helps.