I am NOT an expert on the mechanics of the AO system- but I think your scheme would only work on a narrow band of wavelengths- Keep thinking though, I had similar ideas using electrostatic forces to deform the mirror, probably impractical...

The shorter the wavelength you want to look at the more difficult it is to correct it... you need to adjust the deformations of your mirror hundred of times a second to a small fracton of the wavelength you are interested in- that is why adaptive optics has been limited to longer wavelengths, the technology to extend this to shorter wavelengths (ie visible) is being developed.

Currently, AO is limited to the near IR wavelengths, but the technology is advancing..

Even given the advantage of zero G, building a giant telescope is currently easier here on Earth- so for now I think understanding how to compensate for what our atmosphere does is our first priority... I do look forward to the day when we can build MASSIVE scopes in space... but unfortunately that is a few decades away.
It will also mean I am happily out of my current job :)

For now, optical and near IR scopes are most economically built on earth... however longer and shorter wavelengths are best observed from space... and quite probably will tell us even more about the universe- what portion of the spectrum we see with our eyes is damn small, and not where the real information is...