Hmm, I think I need you to make a video of that in operation to understand the purpose, Rick. Could you make a mock-up with a small box and some sheets of paper? Post it to YouTube and we can all see what you mean.
Wouldn't an old venetian blind accomplish the same thing? You can even get them cut to fit.
But a cold frame needs to get light to the seedlings, and also needs to ventilate itself to keep from overheating, right?