Lee: Better watch out. I got jumped on when I raised the aesthetics issue a few months back! Don't you know that all that counts is the fish?
I have no knowledge from experience, but I see no reason why your suggestion would not work just fine, so long as the means of return from the showers to the pond does not cause a loss of the high oxygen levels in some way. Somebody more knowledgeable on dissolved oxygen characteristics needs to jump in here. [Some may think my concern silly, but I do believe the oxygenation effect is one of the major benefits of the system. ]
My thought has been to have the showers at the head of a stream, so the showers could be hidden by shrubbery and the water tumble over some stones before entering the pond ... maybe a series of little falls?
I've also been concerned about not disturbing the neighbors with the sound of torrential showers 24/7. I had one complain about a tiny fall on my pond once ... of course, their 2d floor bedroom does overlook my pond. I can understand that at 2am it could be a problem on those nights when air conditioning is not needed. (That's not very often around here... almost always too humid to be without.) Using a stream would allow the showers to be distanced a bit without having as much enclosure in pipes or the pressure of a pump. But since you are thinking of piping to a waterfall, seems to me that would counteract any negatives of pressurized piping. ... if there are any. ... How nice it would be to have several acres to play with!