The mnemonic in this case is intended to assist in regaining full situational awareness by highlighting the principle considerations. The time when you will forget or omit a critical factor is exactly when the workload has rapidly increased and the hairs on the back of your neck are standing up.
And due to this 'hairy neck syndrome' you forget the mnemonic. Then what? If you need these things as a crutch the perhaps you don't understand the basics and need more awareness.
Regarding the horlicks of simple 2 engine manual G/A's. I was B757/767/737 TRI/TRE in various companies. It was common complaint/observation that this manoeuvre was performed unsatisfactorily. How dis they know? Because it was when it happened on the line. When was it trained/checked? Never, after the first initial TQ course. The prof check is a slow single engine G/A and the LVO is an auto G/A. Push the button and let George do his thing. Solution; more recurrency training of a known weakness. Resulting answer; nothing extra at all. Sad day for training departments. No crashes on G?a so no further training required. Incidents? Many, but all survived. Sad days indeed.