Works great for wings, which you've figured out.
Works well for wing cases where you want the underlying materials to show through just a little.
I like it as an overwrap on flashy bodies where you want to be a little more subtle.
You can color it with permanent markers and use it for carapaces on crawfish or shrimp patterns.
Colored and cut into thin strips, it makes nice wrapped bodies on larger flies/streamers.
It's ideal for simple midges, all you need is a thin strip of Tyvek and some markers. Use clear sewing thread, tie in and wrap the Tyvek to make the body, rib with the clear thread, tie off. A quick swipe up the back with a marker in your choice of color (Yellow and chartreuse are my favorites), a dab of dark brown or black for the head, and you have a very effective midge. In sizes 20-24 I've done well on tailwater streams like the San Juan in New Mexico.
Take a bunch of thin strips of the stuff, mix in some Krystal Flash, and it makes a very interesting tail for top water poppers.
Cut into a curl, it makes 'twister tails' for bass/panfish flies.
I'm sure others have additional uses for it.
It Just Doesn't Matter....