I don't think it would stop them chewing wood if they have a taste for it - you need some apple/pear/willow sticks for that really. But, it could make a good platform/chewing toy, and it is free so why not?
A couple of things though, I once read some wise advice - you can't laugh when the bunny rips up a yellow pages but then get annoyed when he rips up your favourite book, because to them, there is no difference. In other words - you must be consistent - it is great advice when thinking about bunny toys. So I wouldn't get them this if you have lots of cardboard in the room that you can't keep out of reach, stuff that you don't want nibbling. I can't see that being an issue though, as cardboard things are easily replacable.
One thing to keep an eye on is that they dont eat too much of it, as it can clog up the gut if eaten excessively. It is also worth noting that a craving for wood-pulp in its various forms can also be indicative of a slow gut - so if bunnies do start to eat lots, question whether their guts are okay, and whether they are eating enough hay.