We already have Special:Recentchanges and Special:Newpages which shows
pretty much the same. Except that they're lists, not a single one.
Some bugs in your approach: you're listing redirects, which can show ugly.
Some titles show url-escaped (with % instead of parenthesis).
I guess the "nice" feature is the autoupdating. It can be implemented but
should be done on its own page (i.e. not on a section of the screen: many
users won't want it updating from the web, and it'd be tons of extra
bandwidth). Note this feature can be [externally] implemented with a 0%
extra load over wikipedia servers, problem is on being able to attend the
load (quite easy if you don't reveal it ;-) ). Plus you should be aware of
people opening it on a tab and leaving it open (forgetting) on background so
it'd hit the server for nothing.