That system won't work for very many tags. Unix systems have limits on the number of symbolic links you can resolve when trying to access a file. I can't remember the limit on GNU/Linux off the top of my head but I'm fairly sure its something ridiculous like 32 links.
Thanks for pointing that out. Instead of the endless cascade, just cascade once off of the first link. That way, there would never be more than two references to resolve and you still get the temporal benefit.
