It all comes down to how the ball changes with age. As the game stands I don't notice a difference in swing from the first ball bowled to say a 40 over old ball so reverse swing wouldn't make a difference unless as you say it was exaggerated. If the ball physics were designed so that from a certain point the ball would lose it's ability to swing but then with good management, the right conditions and bowlers, reverse could then be generated.
This would then be seen as a bonus from a bowling perspective while from the batting side of things imagine you're cruising along, the ball's doing nothing so is easy to hit, then all of a sudden its starts hooping late causing you to adjust how you play. It would add such a good dimension to the game.
Ideally what I would love to see is something like this:
0-20 overs: More seam and bounce (swing dependent on conditions), minimal turn.
20-40 overs: Seam and bounce decreased ( swing dependent on conditions), increased turn.
40-65 overs: seam, bounce and swing minimal, turn as for 20-40 overs.
65-80 overs: Same as 40-65 overs, reverse swing starts to happen.
This would only be for the red ball, while the white ball would need to change at a different rate.