My initial thought is no, it won't work.
A TVI balun is using different frequencies than a S/PDIF balun does. And the transformers in the balun have to be wound to work for the frequencies intended.
You can get 'wide' band baluns that will work for a large group of frequencies (CATV baluns come to mind). But the wider the bandwidth, the larger and more expensive the balun becomes.
Which is why I don't believe the small cheap TVI baluns will work. But you could give it a try. If the frequencies are close enough, it might work.

I remember 25+ years ago when I first tried an analog audio balun from MUX lab, to try and send a coax digital signal over cat5. And it didn't work. Scratched my head until I dug into the engineering of the product to understand why it wouldn't work.