Nope, my method would involve more work because it would be using 4 individual diodes, so there would be soldering onto the leads, insulating the wires, securing the diodes so they don't get ripped off, etc. I'm willing to bet that's all the converter box is, just 4 diodes put into a convenient package with color coded wiring. My method would just be about 10 bucks cheaper, but even I would use the converter box you posted if I needed to wire up a harness. I just didn't know they existed. I figured if there was a solution that simple and readily available we wouldn't have had members rigging things up with additional lights and wiring on the trailer.
That's one of the reasons I was checking interest. There's no reason for me to put the work in if there's already easier solutions.
I had 2 ideas, and the second one would be far more complicated because it would involve several relays, running a constant power wire to the fuse panel, and the 4 diodes. The benefit to the more complicated method is it wouldn't put additional strain on the already weak factory wiring, and won't affect the flasher speed. It would be the same concept as the factory tow package setup.