That looks like it will work well. Have you thought of a way of plugging the hole, preventing corrosion, that will allow removal of the magnets at some later date? Leave a very short screw in it?
For the sake of others who might try the same thing, they should bear in mind that embedding a magnet in too-deep a socket will circumvent some of the magnetic flux. Instead of lines that reach out to the opposite rotor face, the lines will be drawn down to the base plate.
With a software package called FEMM, I found that a socket more than 25% the thickness of the magnet will start to affect performance.
My 2 cents.