In computer science terms, this is going to result in an untidy shutdown of the machine. If the AI is actually doing something potentially dangerous at the time, then this algorithm will terminate the AI in the middle of doing it. It may even decide it's entirely appropriate to start flying aircraft or operating nuclear plants after it already knows you're going to blow it up.
Still better than letting it take over.
I just noticed that LessWrong has not yet linked to FHI researcher Stuart Amstrong's brief technical report, Utility Indifference (2010). It opens: