That sounds like it could work, without knowing the flow rate it's hard to say, but if it can be adapted to work with not overly huge water lines it would probably be OK. There's really no use to have huge lines going to the pump, core, and radiator because you don't need that kind of flow. If it's meant for engine cooling, it might be a on the high flow side for what you'd want..?
I've never seen one before, so I have no clue what you're talking about. Any pics or idea of how much they cost?