Interesting concept.
Firstly, I think that some kind of it can be easily implemented on top-level of Datacoin
Secondly, is someone creates such coin, it can co-exist together with Datacoin, because you understand: it won't give good performance if you need to get a lot of 1 KB files via torrent. So these two coins can complement each other: Torrentcoin for magnet-links in way that you provided, Datacoin for small text files. It's possible to build the whole 'Internet' on top of Datacoin, but with Torrentcoin it will be impossible. But imagine: 'Internet' based on Datacoin, and all its media content stored in Torrentcoin! It can really change the world of decentralized networks.
Nice nice... and (take one more idea) it can be used to stream video?
EDIT: live video