Mine is mounted on a 71 Schwinn Sport Tourer and has three threads exposed on both sides, so even though I really know nothing about the Phill Wood bb I would guess by what I have just read that we are both fine?
(the one on my bike appears to have been there forever)
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You see, their morals, their code...it's a bad joke, dropped at the first sign of trouble. They're only as good as the world allows them to be. I'll show you. When the chips are down, these...These "civilized" people...they'll eat each other. See, I'm not a monster. I'm just ahead of the curve