We have a variant of this for new hires that come onto our team at http://highgroove.com. You'll pair with every existing highgroover over the course of your first 5-6 weeks.

Also, this sounds very similar to the benefits I see when running code retreats, http://coderetreat.org/. Though the problem domain doesn't change throughout the day at a code retreat, its interesting to watch the diffusion of ideas and knowledge.