If it isn't double skinned/walled it will be fine. I know that the champagne buckets that come up are double walled, so they have an air gap so they wouldn't work quite as well, and also as it is a sealed chamber would probably be dangerous if heated!
Saying that, it is a large capacity, 3 litres is a lot! And for 15 quid, you could get a zebra or tatonka billy or a nesting set of 3 ally billys.