I've actually done this numerous times over the years,.works very well,...just takes time. (Overnight is usually enough for most items with basic rust) The rust jumps off the part being de-rusted,..and then it attaches to the sacrificial piece. I use to use it on stainless QC,..and a few other things as well. The bubbles that come to the top and released into the atmosphere are Hydrogen,..and explosive. Is the same idea behind Hydrogen driven engine.
After seeing this I remember seeing something like this many years ago.
I thought this was a good idea because I know everyone has tools and equipment that gets a bit corroded.
Electrolytic Rust Removal
Jeff