Yes, this system is in use, on the coast of Victoria at least.
I cannot get the maritime website to work on this device,
there was a sweep (rotating light) and a flash. Both lights coincide when you are in a perticular place. Not sure if it is for a channel, or general direction (same as VOR).
It's a stupid system, even without looking at it. I don't see it as having any advantages.
I don't take my phone with me in the back country. There's no reception. How do I find out the code I'm in.
Like the phone system, it tries to avoid having neighbouring zones having similar coordinates (area code/words)
The conventional coordinate systems at ...
It depends what you want out of your expedition, and if hunting fossils in far flung places is your thing then a geological map will take you a long way.