I think this will achieve your goals for the feature quite nicely, but it also highlight one of the problems with the current exploration. That being the feeling there actually isn't anything hidden to find and therefore it's not really exploring. All potential sites are immediately visible to everyone just by entering the system and even the likely locations for sigs are now shown without any effort. Since there isn't even the pretense of anything hidden anymore to find and reveal, we aren't really explorers we are treasure hunters, that delve to sites everyone already knows about and sees.

The above isn't precisely an issue with just the new system, but it really brings it to the forefront. Exploration usually means going of the beaten path and seeing if you can find something of interest not immediately visible to the people just passing through. You've now officially made the equivelant of glowing arrows pointing every player to the "hidden" items you've sprinkeled throughout your game, when before people actually had to prepare and spend some effort to achieve the same. If there is one major downside you've introduced with these changes, this would be it and I hope future iterations to the system try to bring actual exploration back to the game.