So I was like 'That’s cool', so I checked up on it and it turns out its not 100% true, it was never made at Cambridge
It was originally a letter to the new scientist magazine from Graham Rawlinson and he used the first two letters and last two.
However it does not work all the time
From Wiki scrambled
"Anidroccg to crad–cniyrrag lcitsiugnis planoissefors at an uemannd utisreviny in Bsitirh Cibmuloa, and crartnoy to the duoibus cmials of the ueticnd rcraeseh, a slpmie, macinahcel ioisrevnn of ianretnl cretcarahs araepps sneiciffut to csufnoe the eadyrevy oekoolnr."
"According to card-carrying linguistics professionals at an unnamed university in British Columbia, and contrary to the dubious claims of the uncited research, a simple, mechanical inversion of internal characters appears sufficient to confuse the everyday onlooker."
Still when it works it's pretty cool.