Paste Without Formatting / Paste and Match Style

I read a recent article about system wide Pasting without formatting (or to existing formatting) configured from within System Preferences: Keyboard & Mouse. The article states that titling the action with "Paste Without Formatting" and then assigning the tradition cmd+V would override it and paste without formatting.

This I consider blind faith, telling an OS to do something based on a title is not the way to gain my confidence, and I wouldn't be here if it worked. I expected a menu to select from existing scripts that did this job, and it doesn't work.

Several others have complained about it not working and are on the same OS specs as myself, can anybody please confirm this works? It could well be that I hve a conflicting program or a reboot is required.

http://applenews24.info/tuaw-tip-paste-without-formatting-by-default/

Thanks.