I too have used the left-thread EZ-out style on a caliper bleeder screw. However, be forewarned: it does take a rather good "feel" for the force you're imparting; if that breaks off, you're going to have a dickens of a time getting it out or drilling it because it's hardened.

If you have to drill, remove the caliper and disassemble first. The last thing you want is some minute particle damaging the caliper.

You'll likely seriously damage the brake line by clamping it. They are not meant for that. Obviously a pressure bleed will be required when you're finished.

Good luck.