I would think the deep official (BJ or R on an interception) watching a player cross the goal line near the sideline would instinctively make eye contact with the official pursuing the action along that sideline. In the absence of a TO signal somewhere up the line, the presumption should be that the play was still live when the runner crossed the goal.
I would also presume, the sideline official who has observed a player step on, or outside, the sideline would continue signalling TO until everything stopped, or the deep official picked up, and repeated back, the signal.
I normally don't have a problem with any signal that actually helps clarify a situation, but I just don't see any value in this suggested signal, in as much as it to mean anything the deep official has to look to the sideline official anyway and seeing, or not seeing, the TO signal somewhere upfield tells the entire message.
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