No Problems, due to the Cayenne's active ingredients (capsicum) properties it activates the receptors of whatever it comes in contact with and insures a healthy supply of blood flow to that area. I too use it after (in a drink) or with food to ensure better digestions. So logic dictates that applied externally to the head it should increase the blood flow to the hair follicles and provide them with nutrients and otherwise stimulate them.
I have had a bit of success with it. But be advised that if your problem is a hormonal one, where the hair receptors are sensitive to the formation of DHT and DHT in your blood you might actually be speeding up the balding process by supplying your hair with more of what it doesn't need. So if it doesn't help you with 1-2 weeks i think you should not continue. There is a medical test where they can test your blood for DHT (dihydrotesterone) and find you have eleviated levels of it.