That's kinda neat. Actually, if you're doing that, you may as well reduce it to a single shift+or:
a = ((a >> 12) | a) & 0xfff
You could also skip the xor with 0x303030 by adjusting the lookup table accordingly.
Unfortunately, you'd still need to factor in the length argument somehow. That is, if given "23" with length=1, it should parse to 2, not 23. You could address this with a variable shift, but at that point, I can't see it being any better than a multiply+shift, even assuming the lookup table is fully cached.
The other major issue is validation, which the lookup table doesn't help much with.
It's unclear what is in the highest byte, so I assume not 0x000x0y0z, but 0xab0x0y0z where ab is unknown (in the past comment I used XX for this). If highest byte is known, then sure, even better.