I did the same thing 2 weeks ago in a slightly different location - see here for a picture .

I would think that your license plate light shroud would be in the way, but other than that, it looks good. I didn't think the cable was long enough to reach there! Not that I would've mounted it there, but an inch or so more to the right, yes...

Outback's (blackpantherskidplates site) original mod used a single 2.125" hole and had the triangular mounting plate on the outside, which I didn't care for... but it did give me the inspiration.