I like it a lot, I actually like quite a lot of names that fall into the category of "dated French feminizations -
Danielle,
Stephanie,
Nicole, etc.
Michelle is really pretty, soft and understated, and also a really nice pastel pink color to me. It does make an especially good middle name, doubly so because it's honoring! I think it would make a really good choice.
http://www.behindthename.com/pnl/87410