It sounds good, but "bits" is already in use for "100 Satoshis".
I've NEVER liked that and have actively ignored it, discouraged it's use, and attempted to kill it off.
I realize I'm probably fighting a losing battle here, it's difficult to unscramble the egg, but I'm still hoping that I can get enough newbies and others that aren't yet familliar with the "bits" term to start using millibits, millies, millibitcoins, etc so that the term "bits" as 100 Satoshis begins to sound awkward and wrong to a significant percentage of users someday. At best perhaps I can hope that it will become a regional Chicagoland thing.