Before you ask, yes, I got the idea from that movie.
It works just fine. The letters are separate from the locking mechanism so you can set each one to whatever you want before assembling it.
The only problem is I think I over-engineered it a bit. The letters were supposed to be kept in place with a locking plate held against them with little pins.
I designed the fit a little too tight and now it doesn't fit at all, so the plate floats around loose and the pins are a pain even to get in there at all. I had to sand them down to do this much.
I've got a less complicated version on order. I'll post about that one when it arrives.]]>