Nice! This is definitely the best default. It'd be cool if explicitly clicking the "All" button still worked, not sure if there's a way you can avoid overriding that?
+1 for this - could the 'All' button's target href be modified by the extension (so it contains a query string param for example) so that, if it's clicked, the user is not redirected to 'All' but then immediately redirected back to 'Web'?