The concept of using words as the seed for you wallet is being defined at
https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki. Right now, Armory has creates addresses deterministically, but (I believe) doesn't follow
https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki.
My gut tells be that both of these features will likely be implemented in the same release otherwise you will run into issues. E.g. A user restores a wallet from a word-based seed on a new version of Armory. If bip-0039 is implemented first, how will Armory know to its current deterministic addresses or bip-0032 addresses.