elliephil I went and tested it out and it doesn't work as a work around for shield rps. You can't cancel the shield into throw after someone shields your attack. Even if you could, the shield would only be out for 2 frames, so the throw would likely get blown tf up anyways and you eat a counter hit. This is something you could use on wakeup to beat both meaties and throws. HOWEVER, if they're even 2 frames late on their meaty you'll still get blown up. You could just MD on wakeup instead, as it is invul, and Moon gauge is plentiful enough that using it early in the round won't hurt you later. This video covers it (timestamp in desc), and a whole host of other OSes.
So, yes, this is an OS that can work, but the small window and losing to delayed buttons will get blown up a lot. Not nearly as strong as 3C ~ 1AD in UNI.