Ooh that's cool! I have a dual-bucket compost system, but since I am on a balcony, no worms (free range or otherwise). I mean, I suppose I could do vermicompost in a bin on the balcony, but then I'd have to bring it inside for the winter and I don't want to do that - if nothing else, because of the fungus gnats that I imagine would have a field day. Those little buggers are hard enough to get rid of if they are in houseplant soil, if they got into compost - eech! XD
But I harvested my first compost from the buckets just recently and started a new batch. Hooray! :D

I should tell my parents about your method. They're not very eco-conscious, but perhaps the "but it's safe from rodents" aspect might convince them...