[Spivak]

Not sure why you're being downvoted, OpenSSH implemented randomart which gives you a little ascii "picture" of your key to make it easier for humans to validate. I have no idea if your scheme for producing keyart would work but it sounds like it would make a color "barcode".

[Macha]

I have to say the openssh random art has never really helped for me - I see each individual example so infrequently and there's so little detail to remember that it may as well just be a hash for all the memorability it doesn't add

[__MatrixMan__]

If you ignored the characters and just focused on the background colors, yeah I suppose it would look like a barcode. But the way I envision it, each line on the barcode is a character, so it still copy/pastes into notepad as the original text, but it'll copy/paste into word as colored text with colored background.