The idea for this game is definitely sound. I would love to play a full version of a game like this.
If you were to work on the presentation and add a more features to increase the variety of the gameplay I think it would be a great game to play.
One thing that might help is making it so that the player has better hints at certain items. The one with the orc confused me because I assumed there was something else that could defeat the enemy due to what the words said. Maybe that was just me though.
You could even make it so that some words let you fall down to lower or upper levels to go back and pick up other words. Kind of like a puzzle solving aspect.
I would certainly say it's worth improving though.