If WafflePool took this same idea, but instead waited for authentication, checked the user's pre-defined algo weights, and rejected/accepted auth based on the best algo, we would have a pretty excellent multi-algo-profit-switching pool =].
I'm very glad that other pools are interested in multi-algo as well. I'm definetly interested in common brainstorming and development in improvments in either stratum protocol or mining software, or both - whatever that could lead into efficient algo switching at miners side. Let's share ideas in the new sgminer thread
https://bitcointalk.org/index.php?topic=632503.0 (or somewhere else).
BTW: regarding pre-defined algo weights - well, besides the hashrate ratio which is more or less equal for all miners, the only interesting weight is electrical power consumption. Unfortunatelly, electricity power consumption is not linear to BTC/GH/Day ratio calculation (exponential function with measured staring point should be used, and since miner doesn't know the current price ratio, he can't set power consumption weights). See also this example
https://nicehash.com/multialgo/power-factor-calculation_x11.xlsx ... you can play with the numbers and you'll see that it is not trivial... but if you can come out with this logarithmic formula, please, do share it with me

... If we find this formula then we can introduce epp (electricity power price) parameter and evaluate it in the profitability formula.