No.
The two accepted ways to shut down an engine in a hurry:
1) Close the fuel injection rack
2) Shut off the intake air
The fuel supply shut off valve will eventually shut the engine down, but you would get a prolonged 'brown out' that could damage your refrigerator or computer.
They are included in ship's fire protection systems, usually manually, and may be used also for CO2 flooding of the engine room.They are not usually used for overspeed trips, low oil pressure shutdowns, high coolant temp. Although the unusual Cummins PT fuel system sometimes uses it.
Nowadays, the power is cut off from the engine managment computer, and the fuel injector solonoids stop working, then the engine quits. (same as forcing down the fuel injection rack)
My worn out lister petter would continue to run with a pipe plug threaded into the intake port on the head, so it must have been sucking air out of the engine crankcase, up past the rings!
You could continue to design a bracket that bolts onto the standard fuel filter pad. That would be a universal trip with links, springs, trigger, solonoid and isolation switch to allow start up, and de-energise after a shutdown has occured. Would work on singles and twins
Scott E
P.S. your banjo bolt experience caused me to pick up a pair of George's custom ones as on your photo. I'm trying the steel ones. Makes it easy to upgrade to hose or tube fittings from the auto parts store when upgrading to a decent fuel filter (remote mounted to make room for that trip device you are designing
)