What you've proposed tackles just one issue under a larger series of issues that you are trying to address with your "Saving Throw Pass". And without tackling the other causes which send players into creating toons with dumped saves or pushing it to the max, all this will do is just push for another change elsewhere later on when it's found that it hasn't done much change at all in eleviating the issue; Players who dump saves will still dump saves and players who didn't will probably start dumping as well as their saves no longer protect them as well as having dumped them. Which is basically no real change here except make certain players with previously no fail saves to not bother, restricting builds that go for that theme (which also usually reduces their other defences, since it's not really possible to do everything).
I understand the math and can see why it might seem like something DDO should head towards. But I agree with Sev at this time that it's not right for DDO; certainly not without tackling the others issues that are related to it.
I'd propose a different approach is taken for now and new spells, effects and spell scripts are added into the game that will benefit players with greater spell/effect selection (that targets various different saves) and make things difficult for players when used by enemies as well. Especially since these spells/effects should (in theory) be added in future anyway.
J1NG