IMHO we should rename this to "Standard Menu Shortcuts" or "Standard Menu Item Shortcuts" something like that, since that's what they are.
Then we should merge all the shortcuts KCMs together into one called "Shortcuts". Each one could easily be put inside a tab view.
I think it could work. I'm not sure if it should be under Applications. I think it could be missed there. I would introduce a new section called "Common Shortcuts" or "Standard Shortcuts". Then I would like to categorize all current KStandardShortcuts (either in the kcm or on frameworks side) to have multiple things in the category like Editing or Navigation for Example. This would also make it easier to find specific shortcuts.