Have used Tyvek as a tarp, but not personnally over a hammock.
Yes, you do have to wash it, without soap/softener, in an upright washer (or front loader with some sort of agitating objects such as full water bottles) and at least 3 times. Otherwise, the noise will kill you!
No grommets- they can be ripped out by hand (did that test myself....intentionally).
I used a pebble on the bottom surface, pushed up through the tyvek and then put a slip knot around the tyvek/pebble bundle as an attachment point. This will likely lead to a deformity in the tyvek...but who cares, it's cheap tyvek and you can use the same spot over and over again. I could not rip that attachment point out.
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