The only problem is see with this is that it can confuse users.
Also, as a side note: You can all suggest what features you wish to have implemented here to help you guys out as coders in the current townhall thread:
You could just use ranks for the coders/mc's, etc and allow that group to edit their titles.
Personally I really like the title system the way that it is. I've been doing nothing but devouring how-tos all week in hopes of getting a coder title at some point, but that's just me.