You know those translucent red cinnamon candies that don't taste anything like cinnamon and instead have the flavor of solidified corn syrup with some capsaicin added to account for the "spiciness" factor? Perhaps they were originally called jalapeño drops because that's exactly what this jalapeño jelly tastes like. So sweet it'll make you gag and just spicy enough to make you reach for that glass of water, I really don't see what this stuff could be used for.
I'm a spicy food addict but even I don't want to venture beyond the few samples I've had so far. To be honest, it's not the idea of jalapeño jelly itself nor is it the spiciness that puts me off, it's the sweetness. This stuff is pure corn syrup and that, in my book, makes it pure disgusting.
* An uninteresting footnote: those jalapeños in the photo were grown by yours truly in a plastic plant pot on the front doorstep.