It sounds ok, except for one thing: The "50's mod" is really only applicable to a single volume control guitar. (IMHO)
Here's why: (I'm at work, so can't illustrate this.)
The 50's mod consists of moving the tone control from the "end" of the pot, to the wiper. This means that you're adding resistance to the tone circuit as you roll-off the volume. But in a dual-volume control guitar, the pups output is connected to the wiper, (ala Les Paul), so the interaction with the tone circuit is completely different. As in - not there.
So you can approach this in two different ways:
1. Wire the volume controls "normal", which means that one control will affect both p'ups.
2. Skip trying to do the 50's mod. (Which I can't see how it would work in a dually anyway.)
Perhaps Kent will weigh in on this and double check my logic here.

Edit: Since you're going to be using a "Tele" style switch, this may be do-able. I'll haveta doodle a couple things and check.

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