Yes, it will work fine that way too. I just wanted to keep the outer axle spacers the same length, so I'm bringing them both out to the hub edge like they are on the one side.Sounds like you are doing a great job Blight.
Just to confirm I havent done anything wrong and not missing anything, why do the bearings have to be perfectly flush with the outside of the wheel? I assume you are installing the 0.080 spacer on one side and thinned bearing race on the other is just so your spacers are equal size. As long as the bearings lock the wheel in position (and the internal spacer is the correct length) the wheel should work shouldnt it?
Alternatively could you have omitted the 0.080 spacer and made the other bearing sit in the same amount?