I have never used Mt. Hood, but have heard it is a sub for Hallertau. The hop additions look good. Should be well within the range for the style, which is fairly broad compared to other German styles.
I made two batches recently, and used gelatin on one and not on the other. The 1007 is low floc yeast.
I use only Munich malt and 2 hop additions, 60 min and 5 minute. About 1 ounce each. The hops are fairly subtle in mine and I think it could handle 1 more addition easily.