Hi William,
That looks like it would work well as long as you know the arbor and pivots are completely straight. You would be better off devising something that would check the teeth while the wheel is in the clock as a slightly bent pivot or arbor will make the wheel rise and fall but you might not notice it on your tool, I never even thought to check the pivots for straightness before I put the clock back together 
I am going to build a test stand tomorrow so I can get a good look at it while it is running as I cant see much when the movement is in the case.
