You are really testing the circuit if you haul down a 347 volt lighting line...
Why?
1. The lighting circuit will already be drawing up to 80% of it's rated load. If it's a 347 V 15 amp circuit, it has about 4160 watts available. If you pop in a 5 KVA - 347/240 transformer, and try to draw 12 amps at 240 volts (NEMA 6-15 plug), you will draw at least 2880 watts, plus losses in the transformer - leaving only 1280 watts maximum, for the lighting circuit.
2. I suspect that there may be some harmonics or electrical noise that kick off from a UMC. As it's not a dedicated circuit, the lighting power supply ( A ballast for fluorescent,HID or LED lights) may not work well, causing flickering, or cycling.
IF you can dedicate a 347 volt circuit it might be okay. Otherwise, I wouldn't consider it