The main issues with that wheel are the axel bar (which will e covered with the shield) and the cotter pin that holds the wheel together; sugar gliders can and have gotten their patagiums torn on the sharp edges. It's also not designed for gliders -- they hop in the wheel rather than run, and the wodent doesn't allow them to jump at all (even more so with the axel sheild).
Having said that, I think as long as you keep it clean so that the axel guard doesn't get sticky with waste, and if you can figure out a way to cover up the sharp edges on the cotter pin, you should be able to use them until you're able to afford a safer wheel. Check it and wash it daily though.
It will get gross and dirty quickly though, since all the mess stays in the wheel.
You can also look up how to convert it into a safe wheel by taking out the center bar and replacing the track with mesh. There are some tutorials floating around somewhere. This would be good to do ASAP as it will make it a lot safer to use as a wheel.
Once you upgrade to a glider safe wheel, you can dismantle the wodent, put it together without the stand, fill it with small plastic toys, pom poms or scraps of fleece and use it as a floor toy/ball pit. That way you'll still be able to get some use out of it.
Personally I wouldn't recommend using it in its current state as a wheel for very long. It is a dangerous wheel that has killed gliders and IMO it's not worth the risk.