Hi Sasol,
I'm no NMR guru but I'd expect it'd be used more for the preparation of compounds as a way to identify any oxygen atoms that might be present (other than inference and tedious guess and checking), so it might just find use as a reactant. Another potential use might be in tracking metabolic pathways; ICP-MS for example can resolve atomic mass to four decimal places for example which allows for specific isotopes to be identified, having a O-17 might be useful for this kind of application (whether the hydrogen peroxide would again be used as a reactant for something more friendly to people though I could only guess).