About the unrepresented countries, the ISU should invite the top five counties and then have a rogue team as the sixth team.
This year it could have been
Carolina Kostner (or Laura Lepisto)
Contesti (or Denis Ten)
Savchenko & Szolkowy
Kerr & Kerr (or Faiella & Scali)
I do not think it would be a good idea to try to squeeze this event in before Worlds. Then it really would interfer with skaters' preparation for Worlds, and be unfair because some skaters would have to go to this competition and others wouldn't.
I like it how it is. It is like the cast party at the end of a successful season's run.
Edited to add: AND ONE MORE THING. I am not much concerned about Scot Moir saying, my country is the greatest! Think of it as school spirit. Gimmie a C! C! Gimmie an A! A! ...