Well here's why I think it'd work, at least in the above setup.

When the throttle is closed on a shift, the air flows back across the intercooler. The BOV is lined up right parallel to the flow path. So the surge can either go straight out the BOV, or around a bend to the compressor. The BOV is the path of least resistance because it's not pushing air back on the surge like the turbo is, and out the air goes through the BOV.

Same deal as when the throttle is open and the turbo is making boost. The air can either hit the front of the intercooler and decide to go through the intercooler and up to the throttle since the engine is producing vacuum in that direction anyway, or it can go out the BOV which requires a certain amount of pressure to be directly on it before it opens. The air goes through the intercooler.

As long as the ECU is running off speed/density and not some kind of airflow meter, I don't see any problems.

But, for a more street oriented setup it would still make more sense to me to put the BOV up on the charge pipe close to the throttle.