It probably will work, with some limitations. It looks very similar to http://www.can232.com/ which notes
There are of course limitations of how many frames the CANUSB can send & receive. Current
version (V1011) is tested with a throughput of sending 1000 standard 11bit frames with 8 databytes
at 125kbit CAN bitrate and the VCP drivers. The ”bottle neck” is of course the RS232 VCP
drivers and the microcontroller not being able to handle more frames per second. So the CANUSB
is aimed for low speed CAN networks and works very well with CAN speeds at 250kbit or less but
of course it is usable up to 1 Mbit (but the bus load may not be high at these speeds or e.g. the filter
has to be set to accept some of the frames). The CANUSB has software CAN FIFO queues for
both sending and reception. These transmit FIFO can handle 8 frames (standard or extended)
while the receive FIFO can handle 32 frames (standard or extended). Furthermore the CANUSB
has also USB FIFO’s built in the hardware, so it can only handle one or two command at a time,
meaning before sending the next command to it, you must wait for an answer from the CANUSB
unit (OK which is [CR] or Error which is [BELL]).
The one you linked appears to be a very similar design (same serial command set and use of the FTDI chip) so probably has similar limitations. If your CAN bus is not heavily loaded or you plan to run below the maximum 1mbit/s bit rate, though, then this might be all you need. It looks like parsing/formatting the CAN frames from and to the serial protocol is straightforward.
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