Poke revenge targets every now and then through out the day and evening, and you too can have a chronic lack of revenge buttons to use, like me!

Already done 2-3 revenge attacks in the last 24 hours!

And after waiting for them to be ripe for raiding! Could have attacked them much
much sooner, but would have been a waste of time.
Revenge system doesn't seem too broken and useless at
my end. Are you pointing the thing in the right direction before pulling the trigger? (OK Lol sorry, that was a bit mean.

)
Otherwise, no. That idea will not work. Way too overpowered a spell. Might as well break the game and install the other half of a 'win button' if you could just spend whatever amount of Elixir (or Dark Elixir or worse, gems) to bypass people's Shield.
Even worse, granted in my opinion, is just to have the Shield bypassed altogether for revenge! That would set a new precedent that I think Supercell would regret more than the Elixir/Wall thing they had to backtrack on.