Yeah, I've seen this in use in UK primary schools. Shirley Clarke is one of a handful of authors who sold British education another "whizzo" idea that was heavily used and is now out of favour. She's also responsible for Assessment for Learning (AfL).
My UK primary school used to use WALT and WILF but dropped them in favour of using something more straightforward: LI and LO (learning intention and learning outcome). Similar idea but easier to write on lesson plans ! The kids still understand the point.
At the end of the day, anything that engages children and helps them understand what/why they're learning is a good thing. Kitschy catch phrases have their place but a limited shelf life in education, methinks.