This is a terrible idea in my opinion. You're basically using Litecoin to protect Bitcoin(Maybe your business?) from what? ASICs? Double spends? 51% attack? Not only does this make Litecoin a slave to Bitcoin, there's no benefit for Litecoin with this idea.
....
Anticipated benefits:
1. Bitcoin users would have a ready made remedy to a 51% attack that they can switch to: Bitcoin users can simply add the requirement that if a Bitcoin block header hash makes it into the Litecoin chain, that its proof of work should be given a bonus. Litecoin community could create and maintain pulls to the Satoshi client that cause it to subscribe to the Litecoin chain and incorporate it as intelligence toward block validation and resolving block chain forks.
Yeah, to protect your coin? What protection does Litecoin get? Nothing! If Bitcoin is so great, it can survive on it's own.
2. Bitcoin would have an easy way to add an emergency upper bound to block creation, just in case an enormous amount of power suddenly appeared. By turning on an optional must-appear-in-Litecoin requirement, the Bitcoin community could switch on an upper bound of 1 block per 2.5 minutes if it was deemed necessary.
Oh! So now you want Bitcoin to be like Litecoin because you know it's faster! Yeah... no...
3. Litecoin would be seen as far more important than a wannabe bitcoin knockoff without added value by those who see it that way.
That's probably only you and a few others if you haven't seen the increase in the Litecoin network. It's no Bitcoin knockoff, sorry.
4. Bitcoin's blockchain would be re-democratized to CPU/GPU users without forcing the Bitcoin community to switch to scrypt, they'd have more decentralized influence on bitcoin than those with the means to buy/make ASICs
Are you scared of ASICs?
5. The legitimacy of Litecoins would increase greatly - people would see the value of Litecoins in their role of protecting Bitcoin, and would potentially vote for the longevity of Litecoin by offering to accept LTC for goods and services, thereby increasing their value.
Protecting Bitcoin? Yeah, and it's slave. There's plenty of services already accepting LTC. This "benefit" in non-beneficial.
6. I'd start making Casascius Litecoins if you guys did this and did it well.
We're not your slaves either or people that take bribes for "Physical" coins.
I don't understand why others are getting very technical about this idea, when you need to realize that this idea is simple to make Litecoin make Bitcoin even bigger. Cascius, are you afraid that Bitcoins are going to shit and you have a whole inventory you're hoping to get rich off of? If I were you, I'd sell them those coins immediately. This is like making Litecoin a shitty XRP for Bitcoin once again. These are 2 independent chains, so let's leave it at that.