MarkV,
Here in central Massachusetts the temperature below the frost line is never that warm. I've given thought to using a similar scheme for air conditioning. Ideally, having a house with a long upward slope by the house. Bury multiple clay/concrete culverts the whole length of the slope. Add input vents with screens at the uphill end. Put a dry well at the downhill end and then take the air into the house and distribute as required. You would end up with a supply of cool, (and more importantly) dry air. The longer the run, the dryer the air.
As far as additional heat storage is concerned, I've gotten myself convinced that I will have pleny with 3 1/2 cubic feet of rock per square foot of greenhouse. If I do anything, it will probably be to insulate the north wall.
Matthew