Hey HolyDirt; It looks to me like what you have will function, but, you have some redundancy and some unnecessary wiring. If you don't mind, let me make some recommendations:
Guitar: Your top pot is wired such that it's connected to the output jack "tip" in both switch positions. So, it doesn't need to be connected to the switch at all. Your bottom pot is connected so that it switches between the "tip" and "ring" of the output jack, but this is also unnecessary. Here's what I'ld do: just wire the top pot direct to the output jack "tip", and the bottom pot direct to the output jack "ring". Now use a simple SPST switch to "short" the tip to ring. You get the exact same functionality that you have now, (stereo/mono switching), with
much simpler wiring.
(BTW - I'm at work now. I'll post some diagrams to go along with this as soon as I get home.)
However; lets take this a step farther. There's a dirt-simple way to wire up an ordinary "Alco" style 3-way switch, that will give you the same stereo/mono switching, with the added benefit of being able to use your guitar with a "normal" guitar cord. (I'll post the pic as soon as I get home.) The wiring for this method is actually easier than your first diagram, and will give you this functionality:
With a standard guitar cord plugged in, you'll have normal neck/neck & bridge/bridge operation. So, your guitar will be completely usable even without your "special" cable and foot-switch.
With your "stereo" cable and foot-switch, you'll have mono operation with the switch in the middle. With the switch "up", you'll have neck-to-tip/bridge-to-ring, and with the switch "down", you'll have neck-to-ring/bridge-to-tip. So, basically, with a different switch, and some simpler wiring, you'll gain quite a bit more versatility and functionality.
Foot-switch: The way your FS is wired now, you have three switches: One to select the neck, one to select the bridge, and one to select both. I'm not sure why you're doing it this way, but you can maintain those options with only two switches. And, there's two different ways to perform that funtion:
1. Use two SPDT switches, (or two DPDT switches if you'ld like to include LED indicators), to select the pickups. Hit one switch to select the neck, the other to select the bridge, and leave both on to select both. The disadvantage of this method is, it takes two foot operations to switch from one p'up to the other. (Your own diagram has this same limitation.)
2. Use an SPDT switch to select neck or bridge, and a DPDT switch to select between that switches output and "both" p'ups. This wiring is actually simpler than what you show, but again, I'll have to wait til I get home to post the pic. This, by the way, is the method I'ld use. With one foot movement, you can switch between neck or bridge - and one other foot movement to switch between one or both p'ups.
This is all much simpler that it sounds, but its hard to visualize without pics. (Film at eleven.)