I think it is a good idea. The only problem would be the voting thing. How would a mod know to move it to the awesome area without scrolling through every post in every show off your project for a majority vote of "yes it should be in the cool forum"? You could do the report post link if you think you have the stuff, but it would leave it up to the sole discretion of the mod then.
I am unsure as to how this would be implemented, but I like it.