I don't see anything wrong with that arrangement. In fact check out the picture of my set-up...
Compared to your sketch...
You'll notice there isn't a whole lot of difference between yours and my set up (remember those are M80's in my picture, which are 2 inches taller than the M60's in your sketch... oh and I don't have a creepy teenager eyeballing my equipment), except that my VP150 is hanging from the ceiling ABOVE the tv as many on here have warned against. But I'm blown away by the sound, I sincerely don't see any problem with having the center channel above the tv (which in both my case and yours allows us to place the tv a bit lower) as long as it's pointing towards the listener.
But take this advice with this grain of salt... for I've never tried the center channel below the tv. So for all I know if I ever did try it down there, there is the chance that I would find it sounded 1000 percent better and would forever warn all others away from ever hanging their center channel from the ceiling above their tv's!!!!
But if you hang it from the ceiling first without ever trying it below the tv like me, then you wind up finding out what Cypher realized in the 'Matrix'.... "ignorance is bliss"!!!
