At the time I was studying, nobody anywhere was much interested. It was considered a curiosity from days gone by. This is a bit strange now I think of it. Being a central text of such authority, every letter almost was milked for as much meaning as could be squeezed out. Just the fact that the mnemonic chose the points it did as a summary could be worth something.
There was great emphasis and social reward for mastery of the material and being facile with it, nobody was impressed with rote memorization. Indeed some did have great memories and could recall chunks of text but if you had to put effort into it, you’d probably get chided. Given the amount there was to learn, it seemed like a waste of time. I think a modern Law student would probably make the same judgement about his material. Unlike some Christians and many Muslims who put a lot of effort into just memorizing texts, I never saw anything like that in the Yeshivas.
And I’d hardly thought about it in almost 40 years until this post. The decision to write down the Talmud was made IIRC in about 600AD for fear that it would be lost otherwise, but as I say, this method of memorizing texts to build a library went on for another thousand years until the printing press. But by my time there was no trace of it in any of the study culture other than these cryptic little sequences on the page.
I do wonder now that you ask. And if that existed, it seems likely there would have been other memory devices too. Mebbe I can dig something up.