I find it too ambiguous for the variety of entries, because with journals you leave quick, generic fb comments for many different things, not just creative works. As a result user A might think that the appreciation button on the memorial page for the dead pet equals the generic "hugs" or "I'm sorry" comment to express sympathy, when poster B reads it as "why does this jerk 'like' that my pet died?" It wouldn't be as bad if you had to intentionally choose to include it, but for most entries I find it not so useful.

What I like about the deviantArt favorite button is that it is not just feedback, but allows people to build galleries and bookmark things, so they have memories and I get more traffic if I'm fav'ed. I would like it if DW developed/reformed the memories feature into such a social bookmarking thing, so that I could get notified if someone chooses to memorize one of my posts as a public memory, and browsing the memories was easier.