What are you gonna do with LOL and LOVE? It's completely useless. Why does water have to turn into steam then? Same to Ash. How about Nice and Ice? Why not just Ice? And Singularity and Anti-Matter?
I really hate to tell you this, but the chances of this element actually being in the game are none. Literary. It has no uses (as you stated) and elements with no use (and are not cool, because some elements are there for coolness) will not be added to the game.
I was thinking of a Different wood that WILL drop Ash. So the reall wood wont drop it. So there is nothing getting messed up.