No, it will burn. You can use white copy paper. It will tent to stick to the product, but will keep it from sticking to the pan. It will pull off of the product without damaging it.
It is the same on both sides. I usually put it so that it curls down. That way it doesn't fight you as much when you are trying to put something on it.
freezer paper is constructed from paper that is covered with a thin layer of plastic, if you put it in the oven it will catch on fire, burn and melt the plastic.