I've heard it used a few times at GA airports in Australia, but am not keen on it. It gives the impression that the controllers can't keep up with what everyone in the circuit is doing.
I always make my intentions obvious by acknowledging "cleared to land" or "cleared touch and go" as the case may be.
I've heard others acknowledge "cleared the option" which, in my opinion, is not very informative.
I don't think a busy circuit is a good place to have doubts about the intentions of other pilots.