Yeah, again, I can't speak to its suitability for sealing windows, and I don't have direct experience with heat issues (just not a problem in my neighborhood). But, it will go as thin as you need it to, and it doesn't really take much pressure. And, I will say this about sealants in general:
All sealants have a certain amount of compressibility and elasticity. The thicker the layer, the more you can compress and expand the sealant. Provided you get a good seal in the first place, the reason seals fail is for one or both of the following reasons:
1) The sealant loses its adhesion to the surface it's supposed to seal.
2) The sealant layer is expanded past its maximum elasticity.
If the surfaces are properly prepped, no decent sealant should fail for the first reason. If the surfaces are not properly prepped, most sealants will fail eventually because of the first reason. So, it comes down to the second reason, and this is where butyl tape really shines.
Unlike most sealants, butyl tape never hardens/cures. So, if you have a boat with 30-year old hardware bedded with butyl tape by the factory, and you remove the hardware, it will still be sticky and stretchy ... like gum. In fact, you could, in most cases pick the hardware up, bolt it back down in the same position, and it would seal back up again. (Of course, I wouldn't advise it, especially since it takes all of 2-3 minutes and a few cents worth of butyl tape to redo it.)
What this means is that, even if you really stress the seal and manage to exceed its exceptional elasticity, chances are that it will seal up again when the part is returned to a less-stressed position. It is self-healing in this regard. And, if you're hard on equipment, that's a good thing.
Just in terms of effectiveness, butyl tape would be an outstanding choice for a long seal that ran along surfaces with a lot of flex ... like certain windows. Could you get it thin enough? Yes. Would it run in the heat? I don't know.