From the comments in that article you shared, it appears as though the "wpgallery" tinymce plugin performs such a task, and basically it appears to:
1) before displaying the content in the visual editor, it calls a JS function that processes content to switch the [gallery ...] shortcode into the HTML img tags, etc.
2) before saving the content on an "update", it calls a JS function that processes the editor content and returns the HTML back to the shortcode format.
So the real problem with that is the time it would take to do step #2. I could use ajax to have wordpress handle #1 fairly easily I would think. But reversing #1 back to shortcodes for #2 would be the tricky part.
It's actually a shame that there isn't a plugin for wordpress that does this already, since this type of operation would be generic for any and all wordpress shortcodes.
Don't know that such a thing would be feasible for this plugin alone given the amount of time I allocate to development on it.