Yes, no problem with applying heat transfers to bamboo. If you're using 100%, be careful not to scorch it but blended should not be easy to scorch.
I've attached a picture of a transfer that Mark (DAGuide) from the Paper Ranch heat pressed onto a green, 100% bamboo swatch. He did this during this year's June Printwear Show in Charlotte, NC.
The bamboo swatch is wrinkled because I've washed it and haven't ironed it. However, the transfer still held it's color very well. Looks pretty much the same as the day he did it.
AB