multiple dice ware lists to make memorable passphrases?
While they don't directly answer your question, I think that reading up some of the other password-related questions on this site will help you think through this process. I would start quite simply with this question, which is also the most upvoted question on this site. Together, the answers really break down the relevant security and usability concerns:
XKCD #936: Short complex password, or long dictionary passphrase?
The short of it (as you seem to understand) is that any password generation strategy ultimately boils down to entropy, which can roughly be understood as "randomness". Selecting 7 times from a word list with 7,776 words would give you a total of approximately 1.719e27 possible passwords, or approximately 90 bits of entropy. The fact that you switch between lists for the given word order doesn't really change the picture substantially (you technically have more words to chose from, but you switch between the list of choices in a predictable fashion). As a result, from a strictly-entropy standpoint, this isn't substantially stronger or weaker than a more standard diceware generation pattern. On the other hand, if it makes it easier to remember the password, it would at least be a usability improvement, and that is always a good thing.
That being said, both are certainly "secure enough" for the foreseeable future. Relevant would be this thread that talks about a password with 80 bits of entropy:
Is an 80 bit password good enough for all practical purposes?
And this looks at the practical limits for cracking password hashes:
https://security.stackexchange.com/a/13016/149676
All of which boils down to the same thing: cracking a password with 90 bits of entropy would likely cost more than the entire economic output of the USA, but you are still vulnerable to phishing, social engineering attacks, and the like.