I like your question. I been looking into a temp mod for the herc. The one you listed is a single battery unit. Not recommended as it is abusing the battery using 7.4 Herc. Now there is dual battery mods. I believe these I'll work but no guarantee. A few people have reported success. I am going to jump the gun and get a 150w sigelei with temp control and try the HERC on it.
Yes it will work. I've used my herc with the IPV Mini II with a single 18650 battery.
It does "abuse" the battery, but you must make sure you are using the proper type of battery. It should be rated to handle 20A continuous, a good example of these are Sony VTC4 and Sony VTC5 (the VTC5 were probably the best battery on the market, but sony stopped making them). Next best is the AW IMR 18650. But it will drain your battery pretty quickly so have some spares.
The reason for the "abuse" is because the voltage is boosted (boost circuit) up to meet the wattage requirements, causing more current to be drawn from the battery. This is especially dangerous if if you are not using the right kind of batteries. If the current is too high for the battery to handle, there is risk of "venting" (which is a nice way of saying "exploding").
Using dual-battery mod (wired in series) does not have this strain because the voltage starts out high at 7.4 and is reduced (buck circuit).
When using the herc and TiGr2 cartridges, the resistance begins to rise as the coil gets hotter. When the resistance goes up, it requires less power to keep the heat going. The problem with VW is that it adjusts the voltage up whenever the resistance rises to keep the set wattage the same. Now if your mod operates in Variable Voltage mode, then its better because the voltage stays constant and the watts will adjust (lower) as the resistance rises. This is more efficient and uses less power. Its like a car, you need a lot of power and gas to get started from a complete stop, but once you start moving it requires less power because you are already "coasting".
I've used my herc with the Cana mods, IPV mini II, iStick 50w, and now the Evic-vt.
In most cases, the temperature control mods will not work with the Herc or W9 TiGr2 coils (KISS, Alpha, globe). This is because the temp. control is programmed to operate in low resistance 0.1-1.0 ohm. Anything higher and it switches into VW mode.
Also of note, I prefer using the old Hercules black rod that comes in at .8-1.0 ohms. Less heat up time....