I think that this system works in similar ways to the Sharper System by Erol and Dominic System by O’Brain.
It’s just using a connotative strategy, which is advised by many mnemonist and memory experts alike. I personally go against connotations for pegs or codes and only for text memorization (learning or memorizing understanding). I prefer arbitrary pegs to trigger my memory biases like: self serving bias, generation effect, verbatim effect, peek end rule effect, availability bias, primacy effect, modality effect, humor effect.