Believe it or not, FMP, I wouldn't mind. I'm confident in the writing I do, and in its characterization. I wouldn't feel threatened by someone who decided to interpret it differently, even in extremes. I may not READ it, but I wouldn't be bothered to know it exists. That only means that the story was powerful enough to make people want to experience more in the world.
Lost_Kyte,
That looks way cool. I'll post it on my blog today. I do want to give you a couple of comments, though.
First, I don't know how many people you'll be able to draw over from this site to play with you. The truth is I'm still a new author, and don't have an extremely large fanbase yet. A lot of the people posting here are TWG members, not necessarily Brandon Sanderson fans. (Though they've probably read my books, they're people who were on these boards long before I got published, and while they suffer my presence with decorum, aren't necessarily the types to go role play in one of my worlds.)
The second is that I don't know that I, myself, will be able to participate. I can give you help, maybe drop by occasionally. However, this is where we get into legal problems. If I hang out in the game too much, and then people see me using (they thing) storylines from the game in my books, I could actually get sued for stealing content from the players. It has, unfortunately, happened to authors before. (Author allows a fanfic or other fan-produced story, author reads it, it sounds like something the author is writing. Author gets sued by the writer of the fanfic.)
So, while I wholeheartedly support this, I can't play much! I DO hope, however, you can draw in people from outside to play along. This would be particularly cool if there are people who haven't read my books, since this might encourage them to do so!
Anyway, let me know if there's anything else I can do to help you.