I've never heard of it, and for a good reason. If you were just musing, ignore the next part. I don't mean to patronize you. If you weren't this is my two cent.
Even with the tag value of -2, it's still weaker than Hi-Lo. Not assigning neutral tag and assigning 5 and 6 as the same as all the other + cards makes assessment blurry not to mention compromised PE; PE is even less than .50. I haven't ran the numbers, but I would imagine that this count system would be reasonably reliable in recognizing situations to avoid whereas it would not be in recognizing opportunities. Consequently, this system is a moot for those who are not wonging out. Insurance correlation may be high, but considering the frequency, the whole system seems like either a prototype or a futile effort. I fail to notice any competitive advantage this system has over any other widely used systems in any way what-so-ever including but not limited to the ease of use. Personally, I wouldn't feel so dandy if I allowed my name to be associated with something like this.