There are many patents for Silver bleaches based on Hydrogen Peroxide, and from looking at the redox potentials it is quite obvious that Hydrogen Peroxide will oxidize Silver (usually some catalyst is needed to unleash the oxidizing power of Hydrogen Peroxide).
Since this bleach was never intended to be used with films, there is a good chance that it will eat the gelatin and thereby destroy the film. If you feel experimental, take a short clip of some test film, expose it to room light, develop it to completion in some left over developer until it is completely black, then see what this bleach does to that test clip and the Silver on it. If the black Silver turns into white/grey milky stuff and the emulsion stays on the film base, you have successfully bleached your film.