Thanks!

Okay, in general there are merits to such a system,
but really my question was about the conventions
at CF, which you stated pretty clearly. I haven't
been using any OOC meta-tells at all, and I will
continue to not so do.

Different roleplaying communities use different
conventions, and it all works out as long as
everyone adheres.

An example, let's say my character wants to play a
practical joke on a drinking buddy, or perhaps
adventuring companion. While camped he attemps to tie the
bootstraps of this target together (probably just an
emote).

It's possible to get a lot more mileage and
fun out of situations like this if the other person
knows its coming instead of acting completely impromptu.
By mileage, I mean a rich interaction that has me on
the floor laughing, literally, instead of just a polite
chuckle.

The target character's player might even miss the emote
while the character is sleeping, and then wouldn't that
look silly to anyone watching.

After the first time, the other person knows what's going on
and you wouldn't bother with any more OOC coordination.