Not sure how big the unit is so I can't comment on how easy it would be to hide on a bike, but if it were to work as advertised, then the vehicle would be recovered and hopefully, scum apprehended, long before they had time to take it to bits. If the police have the right gear and you have Tracker Monitor, not the ordinary flavour.
My neighbour had his car back within 24hrs of it being stolen, and scumbag thief was indeed arrested.(Probably got 2 weeks community service)
It obviously can work on a car, so in theory it should work on a bike.