There might be an issue with this. Snatch blocks have two "ears" that slide apart to allow you to insert the winch rope, but then they're supposed to be closed and a d-ring put through them. There's only enough space for a single d-ring. If you open the snatch block and mount it with two d-rings, and the wire rope pull isn't perfectly parallel with the two ends of the tree saver, I could easily see the ears of the snatch block get bent out of shape.
For example, if you hooked up one d-ring to each of these ears and pulled just like that, do you think it could screw up the snatch block? The problem would be worse when using a tree-saver around a larger tree, because the ears would be at a larger angle to each other. Instead of ~30* in this pic, they might be offset by 90* or more.
Furthermore, the snatch block seems to be the limiting factor. The snatch block I've got is only rated for 17,600#. I remember looking into 20k# or more snatch blocks when I put together my kit before GSMTR and didn't find much IIRC:
Snatch Block - 17.6K - Smittybilt