Although I use spreadsheets on a daily basis to keep track of budgets, calendars, house maintenance, etc, I haven't used them before to track marking and student progress. I can definitely see the benefits to using this system, particularly in the older years.
However, as I have more of a Junior Primary focus, I do struggle to see how I would use the example format to record feedback when the younger years don't have the same focus on testing and numbered marks. I would still use a spreadsheet to monitor student progress to make end of term marking easier, but I wouldn't be using the same number based format that calculates percentages to use on reports.
Googling different spreadsheet options, there are a lot of easy options for making marking easier throughout each term, particularly ipad apps that can be exported and input to student reports.