Very, very cool. >
I'd just like to mention that they might show his real shikai in the Diamond Dust Rebellion movie. In the beginning of episode 153, there was a clip from the movie and Hisagi had a glowing staff in his hand, which looked like a shikai transformation.
As for a name and release.
Name: Scorpion Tail (Sasori no bibu)
Release Phrase: "Sting, Scorpion Tail!" ("Ken, Sasori no Bibu!"