I've used some cedar in the recent past but, not for scrolling, mine was a bit thicker........
I'm not sure how well it will scroll, especially more detailed cuttings, but, for larger cuts I think it would look very nice for a "WELCOME" sign or maybe the family name type sign.
I say "GO FOR IT!" and report back with how it cut and some pictures of you work. I would be interested seeing it.
The wood is priced right anyway!
Rog