To answer this question: what do you think of this cooler? I think its fine.
To answer this question: do you think that cooler will be more effective than the stock one? I wouldn't know, but judging by the responces you've gotten, yes its a better design. Makes sense, RAM can run hot, and if heat isnt being added by one big heatsink it'll be stable, and more cool apparently.
The reference cooler looks slick (one piece, plastic bezel, sticker), but apparently/obvioulsy a two piece does the job better.