I think this should be done in either one of two ways:
Each show gets 2 hours and 5 Titles each, World, Mid Card, Specialty, Tag Team, Womens. This evens it out, putting the Black Show on the same level as the Red and Blue shows. This kind of creates more competition between Raw and Smackdown (more Champions to compare to each other) and also gives ECW more of an alternative feel to it compared to the other shows (difference being the Specialty Titles).
Raw: WWE Original Championships
1. World WWE
2. Mid Card Intercontinental
3. Tag Team World (I think the Red set of Tag Titles should be called the WWE" Tag Team Titles)
4. Womens Womens
5. Specialty Light Heavyweight
Smackdown: WCW Original / newer WWE Championships
1. World World Heavyweight
2. Mid Card United States
3. Tag Team WWE (I think the Blue set of Tag Titles should be called the World" Tag Team Titles)
4. Womens Divas
5. Specialty Cruiserweight
ECW:
1. World ECW
2. Mid Card Television
3. Tag Team ECW
4. Womens Vixens
5. Specialty Hardcore
Please note, TNA is already like this, and it works. The KO Tag Team Titles is a nice plus.
TNA:
1. World TNA
2. Mid Card Legends / Global
3. Tag Team TNA
4. Womens KnockOuts
5. Specialty X - Division
6. Women's Tag Team KnockOuts Tag Team
-OR-
Consolidate the Championships and allow all Champions to go on any show. This would visually show the level of importance of each Champion. More Belts = More Importance / Prestige. This even lowers the number of Titles currently at 8 (or 9, depending on how one looks at it) to 6.
Champions:
1. World Holding 3 Belts, the WWE, World, and ECW Titles
2. Mid Card Holding 2 Belts, the Intercontinental and United States Titles
3. Tag Team Holding 2 Belts, the WWE and World Tag Team Titles, as it is currently and the inspiration of this idea.
4. Womens Holding 2 Belts, the Womens and Divas Titles
5. Specialty Holding 1 or 2 Belts, Light Heavyweight and / or Cruiserweight Title, depending on what youre trying to portray.
6. Specialty Holding 1 Belt, the Hardcore Title.
Keeping it how it is currently is fine, but change is always good.