... is there any reason I shouldn't use a ...?
No reason not to use it, other than... Will it physically fit? That cap is 19mm x 7.5mm. I believe it will fit.
... is there any reason they used a ceramic in this position originally rather than the blue ... mouldeds?
I have looked at a number of original Fender eyelet boards and noticed something about "capacitor choice": the
type that got used was whatever was
the type that fit between the available eyelets. - There are a number of places where same-capacitance appears as a "brown blob" cap, and a "ceramic disk" cap, and sometimes even a "blue molded" cap in the same amp.
- The only significant difference between these capacitors is how far apart the eyelets must be to have their leads fit.
- I do not have any proof, but I have come to believe Fender bought capacitors of a certain type because they fit in the space allowed on the eyelet board. Like the brown blob for Vibrato channel output to phase inverter mixing resistors, but blue molded for same-value in the phase inverter output. Or a ceramic disc for Normal channel output to the mixing resistors, when the brown Deluxe had the exact same value in a blue molded cap.
I don't perceive a "technical reason" Fender chose one cap-type over another, and I suspect it wasn't "price alone" because there are same-capacitance-value present in several different cap-types. The only material difference I can find when the vales overlap in a single amp (or similar grouping of years) is the distance the cap must span on the eyelet board.