It will work with any capacitive touchscreen. I looked up the specs on the Asus TF700T and it looks like it's a capacitive touchscreen. You should be good to go! (P.S. Most newer tablet/phone devices are capacitive - this even works on my older android phone)
It should work on any touchscreen device. It is a small sponge acting as your fingertip. Reduces finger smudging and for those with larger fingers and or long fingernails makes it possible to select the proper item.