It might work, I don't think you're going to get a modifier on there though, and to be honest, being able to modify your light output from high contrast harsh light to soft feathered light depending on your need is quite important in portraits. Wax paper won't cut it, and If you put wax paper, depending on the heat and the paper, you might be looking at a mess. Continuous lights put out a lot of heat, even the new energy saving fluorescent ones, at least the ones with decent wattage, and the bulbs are big, the clamps on those lamps might not have been designed to hold such a big bulb. It's also important to be able to mount to a light stand so you can move the lights around to achieve the proper lighting, Do you know if those clamps will hold the light on the light stand?
If you are going with continuous light, I suggest you get a properly balanced daylight bulb like the ones from Wescott or any other cheap versions (don't know how good those are though, you can check them out
here)
If you already have a flashgun, and if you are not going to use the lights for video, I would suggest you invest in a softbox modifier for it or an umbrella, and if you don't have a radio trigger system, get one. One of those 3 in 1 reflectors could help and won't break the bank either. You can also get another low cost flashgun such as the Vivitar 285HV and with 2 flashguns, modifiers and a 3 in 1 reflector you'd be pretty decently equipped for most portraits or still life.