I looked at that stuff and had it saved, I noticed someone caught onto it when it went from 44 available units to only 3. I was originally going to purchase it but as you said it was $11 for a 1/2 meter, and I didn't want to deal with dying wool. But that knit is much thicker than what I was able to find.
Edit: given the thickness, I think it'll look really nice.
This is what it looks like dyed:

This sample was dyed twice- once in a cotton dye and once in a heated specialty wool dye. It didn't take in enough pigment to go deep black, more of a dark grey. Looks like the cotton fibers are the darker ones. The material didn't shrink that much but it DID visibly shrink. The fibers also thickened, as did the overall fabric, which might make it a pain to sew (I haven't tried yet). I'd say it looks "OK". Maybe some wax will flatten down the fibers a bit. The big challenge will be to dye several yards at once since it can't be done in a machine. The wool specialists I've spoken to have said that a 26 gallon tank will barely be enough... then you have to get an industrial heating element in there to heat up the bath. All in all, not a walk in the park when you live in an apartment!
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