I "created" something almost exactly the same as this about 3 years ago. The only difference is that the cards were not spread. Instead the cards was just side jogged to be shown and then controlled to the bottom using the same method. I also have a download available on The Wire with one similar control to the bottom of the deck but the card does not end up reversed. This move would be great for the effect called "Dinner for Two" (just search for it on youtube) or anything of the sort. You could also have two cards selected without looking at either. Do that sleight and then cut that card to the center after finding the other selection after losing it in the deck. Miscall the first card as the second one and make the other card "turn over" in the deck by itself. Then show the cards to have switched. If that wasn't too clear, I'd be happy to make a video to show you what I mean. Just let me know.
-Jarrod