It should work ok. They are not the lightest around if memory serves.
John Brodak sold at least one production run of a version of these specifically for control line. I never got one, but there must be guys around that have some experience.
I think the #8011 was a "Series 75" engine, which I took to mean it was produced beginning in 1975. I run these pretty much exclusively in Quicky Rat racing. The small front end must be understood, as the cross dowel pin cannot handle abuse. (Don't back a stud into the hub until it bottoms out!)
The #4011 was later, but not sure how much later. It has a different front end, but the rest of the parts should swap. It is a pretty robust engine in every way, with the understanding that these are both on ringed engines and you can't just blast off lean runs and expect to have any compression left. It is a Dykes ring, if that helps. Mild steel liner, aluminum piston.
The #4050 was even later, and it had the ABC setup. Guys like these if they can find one. There are a bazillon of the 8011 and 4011 used out there and still good parts support from MECOA.
Hope this helps,
The Divot McSlow