I've known people who try to do this full time reservist thing. Never met an IRR guy that does it, but I don't see how it would be that much different when talking executing ADSW orders.
I'll echo others that have said that this doesn't provide you with great job security. I've seen ADSW billets cut/orders cancelled just weeks before the job was to start (this was for a guy already filling a billet and was expecting it to be renewed). So he had just weeks to figure out his next job or set of orders. That said, in the aggregate, if you're in a fleet concentration area for your designator/specialty, you can likely make it work, bouncing from command to command. Think Tampa, Oahu, or DC, all of which have multiple 4-star staffs (each location with a certain amount of specialization). SD, Norfolk also have a pretty large staff footprint.
I would think that if you want to go to work in uniform everyday, there is a lot more upside to doing it on active duty. Your promotion ceiling/pension is higher, more command opportunities, etc. That said, for certain people, this "reserve bum" lifestyle is appealing in that it probably tends to be a lower stress existence.