I cannot see any direct security problems, but there can be side effects.
On some systems, the user and/or the admins are warned that a password was changed. Changing a password everyday could add noise there. Another possible test is that changing very often a password could be an indicator that something weird happens with that account and here again the user and admins could be warned of that.
Some systems can use password synchronization. Ok SSO is better, but not all systems support it, that is the reason why password synchronization can be used. When a password is successfully changed in one system, a request to set the new password is sent to another system. Under abnormal conditions (network problems) the request can be queued, or lost. In the first case, the passwords become different during a variable but short period, in the second one, the passwords go out of sync until next reset. This is seldom observed in normal conditions because you need the simultaneous occurence of 2 events: a password change and a network problem. But if a password is changed everyday on such a system, you can expect to fall in that trap.