Neat little trick dokdok. With the cost of braided line, it def is a money saver.
 
Thanks for sharing,
 
bobby

This is something braid users have done routinely for years (not recommended for mono). Actually braid appears to deteriorate far more quickly than it actually does. Colour fading is inherent with most braid as the dye used is a surface coating that can not permeate the dyneema or spectra or whatever material is used for the actual line. A washed out colour however does not mean that there is necessarily any loss of line strength. My ice fishing braid gets rough useage during the season and the colour fades rather quickly. Even with the friction involved with line running into the lower rim of the hole, the line retains its' strength amazingly well. In my experience, braid does not cope nearly as well with sharp shelled zebra mussels when used for open water casting or trolling. Dependent on useage, it's likely a personal call as to the necessary change frequency.
As an aside, never use the holes in a level wind reel as shown. More importantly, the knot used to fasten the line to the spool in the video is, to me, a poor substitute for a proper arbor knot. Here's a site that I've found very useful for a variety of fishing knots: www.animatedknots.com which includes an arbor knot description.
 

I've found braid such as Power Pro to have virtually no tendency towards memory set unlike any mono I've ever used. The dreaded bird's nests we've likely all experienced with mono used on spinning reels is definitely a royal pain, especially common with freshly filled spools even when using premium lines.
Here are a couple of things I've found to at least partially eliminate the problem you raised concerning the potential for serious snarls when refilling spinning spools (level winds are easy if you make sure the line goes on the reel spool the same way it comes off the manufacturers spool). Soaking a freshly bought plastic spool of mono in a bucket of hot tap water prior to winding it on to your reel will help to eliminate a lot of the springiness that causes it to leap off the reel spool unevenly when first being cast. Try to get a "partner" to hold the store bought spool facing your reel so that the loop coming off matches the direction of  your reel bail. This helps eliminate the twisting that will occur if you are loading the line opposite to the coil that the line will show coming off the factory spool. Maintain steady tension so the line winds tight enough to lay smoothly and not cut into underlying layers (this is especially crucial with fine diameter braid). With freshly spooled mono, the very best way to insure you've got it on the reel spool evenly is to carefully let out almost all the new line (no lure or swivel) behind a boat that is under power. Drag it on your way to your fishing spot (you'll be surprised at the pull) then rewind it on to the spool as the boat slows somewhat. It will be amazingly limp and pliant unless you insist on winding while the drag is slipping with the first big fish of the day . Dragging line behind the boat is a good way to eliminate twisting from a trolled spinner or spoon when a swivel may be twisted or jammed as well.

We had a thread on this a while back - Very good info supplied by Grandpa Jim.
 
An excellent topic fellows,
 
bobby