Maybe you could post the ingredient list so people could give input? There might be other things besides saccharin in a lip balm flavor to watch out for in
e-liquid -- i.e., is it water soluble?
As far as I know from my limited understanding of cosmetics chemistry, lip balms and other moisturizers generally use oil-soluble fragrances and/or flavorants. For atomizers to work properly, it's usually recommended that you use mostly water-soluble flavorings in your DIY liquid.
As someone who appreciates a fine artificial sweetener,

here's my take on your actual question...
The trouble with
saccharin is usually the bitter aftertaste. It's why most people drink Diet Coke and not TAB anymore (and I don't mean Turkish American Blend

).
When it's used in lip balm, the sweetener's contact with your taste buds is faint enough that this isn't bothersome to most people. It's technically heat stable (so the atomizer heat probably won't mess with the flavor), but the bitterness is one reason why it's almost never used in food or baking.
So it could be pretty tough to tolerate as a sweetener in
e-liquid -- I'd expect the bitter flavor to be noticeable. If the rest of the flavoring ingredients check out OK though, it's worth a small trial to see.
(I'm not even getting into the whole saccharin-causes-cancer-in-rats-at-high-doses thing. Yes, it's banned in some countries. But, this is a substitute for
cigarettes...

)