I like the idea. I think it's a good use of £300 million pounds. The Voyagers already spend alarming amounts of time under the wires (most notably on the Birmingham-Scotland runs, but they also spend quite a bit of time on the ECML), and it would look really good for the government's green credentials, and probably save quite a bit of money, if they were to add the pantographs.
Furthermore, I think this could actually spur the government on to infill electrification when times are better. Once you've got CrossCountry trains with pantographs, suddenly it becomes feasible to electrify (say) York-Birmingham, as there will be trains ready and able to make use of the OHLE immediately (with the diesel stock being replaced by EMUs as required). I know some people disagree with me here and think that the opposite will happen (that there will be less of an incentive because the trains are able to run with diesel, and that electrification becomes less of a priority), but I don't realistically think that the cross country routes are all going to be electrified any time soon, and that it is sensible to have these EDMUs for now.
So, I hope that the government see the sense in this and go ahead with it. Sadly, I don't think they will. In a time of cuts, transport always suffers. And I don't think they're going to hand over that much for this. But we can always hope.