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I can't think of any way this could possibly negatively effect my earnings but I'm still feeling a little anxious.
Anything I should consider before going live with this?
If the pages of your "users" generate less than 100k/day, you have to do it the old fashioned way.
I've been doing revenue sharing for years, but only with trusted users.
While there are many people that will warn you away, for various reasons, I have yet to hear of a confirmed case of Google shutting down a site owner's adsense account because of actions by one of the other accounts on the site.
I earn substantial income from AdSense. Unless there is a uniform consensus, I'm not comfortable trusting the AdSense reps with my income.