I'm in the process of converting Cofused, cosumed, and codemned to using this style of macro, and from the little testing i've done so far, i'd say it works pretty well, especially with trinity bars, and the immense amount of macros it gives you access to. (Heh, finally dragged me away from bongos2)

However, as noted previously, i can confirm that this does not work with autoshot for hunters, nor does it work properly with Shoot for Mages, Priests, or Warlocks. For wands, it fires once, and then you have to mash your wand button again to get it to fire again. If your main is a wand user, they will of course keep firing.

I guess it doesn't completely kill the utility of wanding, just makes it more useful for a finishing touch than anything else. Annoying while grinding though.

Other than that, i'm loving the responsiveness of this sort of macro as compared to focus macros.