No, not heard of this. But there are quite a few teaching approaches which use rhyme and rhythm.
I think it has benefits; fun way to learn, lots of repetition, perhaps copies natural rhythms in speech.
The major problem is that it doesn't necessarily replicate real life. Unless you want to communicate to other English speakers through rhymes!
Same as any kind of teaching: try it before spending time and money on it. Then if you like it, carry on. And maybe mix it with other types of learning.