Sounds like it works, I can't test it as I don't have any of the pellets.
 
NOTE - This is an old toy, and does not have the orange markings that modern day toys have, meaning it can easily be mistaken as a real firearm to the untrained or distant eye. This is sold mainly as a nostalgia / collectors piece, please use this sensibly. I won't be liable for anything that happens under the wrong use.