That's a pretty slick idea, and it seems to have quite a bit of travel such that you could probably use it with a wide variety of cranksets. You might try calling Velo Orange to see if they know how much adjustment it allows.
Still, do you have the original (presumably adjustable) bb? If so, you could save some serious cash by swapping spindles, changing chainring placement on the crank spider, or using spacers/different bolts with your chainring. If there's an existing crankset, you're probably only a couple of mm off as it is, which makes it relatively easy to tweak the chainline.