I decided to not wait for compatibility with parachutes so I did it myself.

New item types are automatically discovered by TIM so no need to add an entry for canvas into the script itself. It should appear in INVEN and QUOTA LCDs automatically. You may need to refresh the QUOTA LCD for it to show up.

To add basic compatibility with parachute hatches add the following to line 2154
It should look like this:
This adds tag autocomplete and automatic item transfer as well as other inventory features.

To prevent TIM from trying to transfer items other than canvas to parachute hatches first add a plus sign "+" to the end of line 126.
Then add the following to a new line underneath line 126:
This will put the script over the size limit so just delete a couple of words from the second line of the script. The reason this list of restrictions is so long is because this block only accepts a single type of component, which is unique in the game as far as I know.

Let me know if you have any problems with this fix and I'll do what I can to help.

P.S. This seems to work with small grid parachute hatches despite the bug that prevent them from transfering canvas normally.