What bait is that? Where do you get them? How much? The hook looks stouter than the Storm Wildeye.
I have used the 6" and 9" storm wildeye with great success in GOM for tuna. No reason the above would not work. Like Nate said, hook looks weak, but same here (knock on wood) I have not had one fail.
BTW, they are one fish lures, so if not cheap, then its not worth it. I get the 6" storms off ebay and at Acadamy when on sale for about $2 a pack (50 cents per lure). The 9" I have gotten for as little as $2 each, same deal, on sale at acadamy or ebay.
They are called a Giant Jigging Shad. They have a much stouter hook and heavier head than the Wildeye. But you have to sharpen the hook before use. They are very popular over here. Cost is 8-10 US$ for a pack with a head and two spare bodies, but we have much higher prices on tackle than you.