Of course, the tricky part is not preventing legitimate patent litigation, but if you word it carefully enough, it could make it risky enough for patent trolls to not be worth it. The tradeoffs change when it's not LLC money at risk but the participant's personal freedom, so even if only 10% of patent trolls could be actually convicted, it might be enough to discourage the rest.
Or, of course, just dump software patents alltogether...
The site does look like it's being maintained. The most recent case I found was from June 2017:
https://trollingeffects.org/demand/landmark-technology-llc-2...
Also noticed in the "About" section that Trolling Effects is a project of the Electronic Frontier Foundation. Which is another great reason to support the EFF.
That's still a minor win, since it mitigates the amount of damage the trolls can do per unit time.
Though, could a patent troll could get around that by spacing out the trolling? So by the time any company finds another company that's been trolled, they've already paid it up and don't have as much incentive to fight the patent troll after the fact.
They could even offer a "discount" conditional upon mandatory non-disclosure of the legal threat.