I was given a similar code sheet. I've modified/added to it and have put it in an Excel spreadsheet.
It contains instructions on how to generate a new sheet (the only thing that changes are the row and column heading)
The original was used by a tank Company as a fast way to communicate over a net. Used in GWI.
They knew the security limitations of using it and their risk evaluation was it was secure enough for use at that time. ANYONE listening would have to have a number of transmissions, after action reports, and a crypto team working on it. So the commander said - it's secure enough for right now.
With my spread sheet the term RFNow on one sheet may be H3, the next Z9, the next I5 so it's a bit more secure.
ALSO the Top/left corner - if the instructions are followed - has a unique 2 byte alphanumeric name.