Legit grip, I personally fell he's compensating for pour sweep manics with it though. I would always follow with the butterfly when sweeping with a 100% and I'll keep a leg hooked the whole time like Eddie suggests if I get it from top halfguard. Top of side is not a great position to have the 100%. This is coming from a guy who almost always does butterfly sweeps straight to side control if possible, I follow to 3/4 mount if I have that 100%.
I feel the above leg work is a better answer to the problems he's listed than his different grip because your re still at some risk of a counter arm bar with his way, you should just try and avoid going to side control with that grip.
Cool thoughts for using it from standing when pinned on the cage at the end, I'll have to mess with that. That has potential since the arm bar counter is not there for your opponent that way and you don't have the simple option of beating it with leg work.