Phil, I think it is a preferance call. I would prefer to see the wire attached to the wheel spoke to the right of where its currently wired to.
That would have the safelty wire in tension all the time and would prevent any loosening of the knock off.
There is a thought that any loosening of the nut leads to the nut friction welding itself onto the wheel.
Then you would have to get Mikes patent wheel nut remover but double the length of the lever to get ya spinner off.