Unfortunately PBO isn't so good with UV or flexing - both of which kite lines have to deal with on a regular basis. I took the quote below from the following web site:
na.northsails.com/North_Cloth/industrial_fibers.html"PBO
At the top of the theoretical performance list is PBO, a fiber made by Japanese company Toyobo. This fiber has been used for a number of years in both 3DL and paneled sails. It has proven to be somewhat better than an aramid sail in performance when new but degrades rapidly under the combination of UV and flex. Because it is a very expensive fiber, its use in sails has all but disappeared in favor of the even higher performance and more durable carbon option."