It should be possible to do it in DRIVER_INIT, yes. Although to me it really makes no difference if I make changes in the core or the driver as I run an ultra-slim build of MAME which only supports L System games, so making changes to the core memory management functions won't affect any other games as the build of MAME I use for dev work doesn't support any other games! If I was using a build of MAME that still supported other games then I'd be more hesitant to make changes in the core for the fear of potentially breaking the other games (although it's extremely rare I use MAME to actually play games these days as it's purely a dev platform for me now).
There are already functions in NVRAM handling that allow you to initialise NVRAM with random fill values and NVRAM is really just ram at the end of the day, so I'll probably just steal and adapt the routines for NVRAM random init and transplant them into core memory init.
Really though, instead of doing all this, I should tighten up my coding practises and remember to always initialise all ram regions in my code, even if I'm not planning on using them in my latest game/demo. Sloppy coding is sloppy!