I'm asking this because I already think I know the answer.
At REI, I found this:
http://www.rei.com/product/729596
5mm "accessory cord." My friend who I generally trust on these kinds of things said it wasn't too thin to be used as Cordelette, but after purchasing it, the size and lack of advertisement cause me to question using this as an anchor.
As far as lifesaving pieces of gear, when I question it, the answer is always "no." Just affirming this with you guys, unless several respectable and knowledgeable members say it's fine.