A mode where all non-empty selections are recorded sounds somewhat strange to me. I'd think there'd be more to be gained in improving the semantics of the dormant selection stacks, so you could make several selections, press a key to remember them, and then press another key to restore all remembered selections.
The key-press to record each selection is mostly there atm: bind a key to 'markSelection' to record each selection, then bind a key to 'sequence prevInSelectionHistory mergeSelection' to restore all recorded selections.