I can say pretty confidently that encoding doesn't work. Google will either see your content as being dupe (if they correctly "read" the encoding), or will see your content as gibberish (if they don't). Don't see how either of those is beneficial.
I'm not interest to using your method. Sorry for that.
The problem is it puts a huge footprint on all of your sites. It is incredibly easy for Google to detect when sites/links have content with other character sets (or encoded content) and there is no legitimate whitehat reason to do this. So you are essentially asking Google to penalize your site.It works to get your links indexed. This shit it pops out is not for your money site (though there are techniques on how you can use this for your money site, but thats a different topic). So depending on how you use it, it still works.
The problem is it puts a huge footprint on all of your sites. It is incredibly easy for Google to detect when sites/links have content with other character sets (or encoded content) and there is no legitimate whitehat reason to do this. So you are essentially asking Google to penalize your site.
herpy derp, who knew all the sites i have that are ranked using backlinks with encoded content were just a figment of my imagination.