Master loot - How does it work?

Hey people. I talked with an old mate some days ago and I just remembered him telling me that master loot (the loot that comes) is dependant on the master looter himselfs' name. So if somebody with a name starting with I is masterlooter some stuff will be rare and other stuff will drop all the time. And the same if somebodys name starts with S. It might change if characters in the name are different to.

We recently tried this out in our guild and weve had full warrior t4 drop in 1 week and alot of caster random epix.

Im not looking for a blue poster to answer my question as they cant, but some people should post what they know / think about the master looting system as its a very interesting subject to talk about.

So please do that so we can learn some stuff from each other.
Cheers!