I love jasmine, both the flower and the fragrance. It works so wonderfully in perfumes, and I really want it to work in lip balms. But the indolic quality of jasmine that makes it sexy in a perfume makes it kind of gross as a lip balm. I've tried two combinations, and they weren't bad to me, but my tester did not like them. I'd like to track down a jasmine that's less dirty and try it out, but that might take awhile. So in the meantime, no jasmine lip balms.
Fortunately, other flowers work fine in lip balms. They might not be to everyone's liking, but as someone who loves floral teas and candies, I think they can make nice flavors.