I like this. I find this kind of lampshading technique very helpful, provided you can lampshade in a way transforms the awkwardness into humour. For instance, if I have just made a foolish mistake, I will often say something like, "Wow. That was pretty embarrassing." as if I am marvelling at my own foolishness in amusement, rather than feeling shame.

People in conversation are generally not malicious and awkwardness is usually considered undesirable by all participants. It doesn't take a lot of effort to defuse it.