Karlos, if I understand what you're saying about this method of operation is to relegate the '060 to interfacing with the hardware, while the PowerPC is waiting for the memory registers to be open for use?
If so, this is a lot like what the Sega Saturn does in practice when you use both CPUs. In practice, the good development houses would have to utilize the caches of the CPU that is not performing I/O, but it did work well in games such as VF2 and Fighting Vipers, where one CPU performed the player character, and the other did the AI of the enemy. Parallel processing on older machines with only one memory bus is certainly a complex venture it seems.