I've been thinking for a while that a subtler version of this -- where the encrypted message is overlayed into the picture data -- would be very hard to detect.
I'm thinking down a path where using strong encryption would be illegal and all communications are monitored, so hiding the fact that an encrypted message even exists is important.
The idea is that the encrypted signal would be essentially indistinguishable from random noise so as long as the message isn't very dense relative to the picture it would be hard to determine it was even there. Also, people naturally and normally send all kinds of inane pictures back and forth so it seems like it would be hard to even infer the existence of an encrypted conversation from data sharing patterns.