So this reminds me of another topic which tries to use this idea and incorporate it into the review system itself, albeit limited to images only. If that interests anyone, know that they could definitely utilize motivated individuals to help out.
That said, at the end of the day, the effort you put into learning a mnemonic goes a long way for your retention later. I will also admit that sometimes the mnemonics here are not that easy to visualize, and so this idea seems attractive. Though the old way is/was to basically create the new mnemonic yourself when the old wasn’t doing it for you. The way I see it, this is useful as a way to jumpstart the creative process, but probably limited to that.