Space blankets work fine as heat reflectors... For example, if you have a fire, put the blanket behind you (assuming you face the fire). It will reflect the fire heat.
For short term "reheating", sit down and wrap yourself in the blanket. Then light a candle or a lighter inside the blanket. It will heat up pretty fast and heat you nicely.
A drawback of those blankets is that they are totally waterproof. Not breathable at all. If you wrap them too close around you (say inside your sleeping bag instead of outside), they'll condense water from your perspiration and make you wet... And being wet is definitely NOT GOOD when it's cold.
Cheers,
David