I think the idea of having a board made up of employees from all levels is a really good idea! I actually don't know of anything like this here in the US though. It's my impression that corporate boards in this country are usually exclusively made up of the higher level executives.
I wish we would consider instituting a system like this though. I mean, how often have you been working somewhere and a decision has come down from the top that makes no sense? I think a lot is lost in our current corporate structure because no one really listens to the employees! They're the ones that run the company on a day to day basis, so they probably know what's going on better than the executives do.