On topic:
Not only would it cost a lot in water bills, it's a complete waste of resources - yes, it's wasting water - there would be no reason for it.
On a similar note:
I've often thought about using the cold water pipe, not as a water source, but as a heat exchanger. If your comp is close enough to your pipes, wrap some copper around the pipe and run your WC water through it. Probably gain a few temp points, and it's all passive.
A similar idea is to use the concrete floor or walls of your basement, but I'm sure that's probably been mentioned before. The toilet tank is a pretty neat idea too, as long as your WC loop is isolated, not actually pumping the water from the tank.
On the buried tank, it seems like it would be much more efficient to bury loops or mazes of copper tubing instead of 1 big tank.
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