That is fine !
I already used this technique (like Xaml) in many code(my IDE Automato, WinForms and VWG )
This framework can by used for many things that needs a Xaml like Framework.
Here is ALL Sources : http://www.automato.org/download/XamlFramework.rar
See the "VWGDemo" to see how work with VWG.
See the "Unit Tests" to see how work in others scenario.