yup, looks great! is the hose-to-lid connection airtight? you want a tight seal so all escpaing co2 is forced through the tube and down into the sanitizer. as long as bubbles are being produced in the sanitizer, you should be good to go. you could sprinkle a little sanitizer around the seal and see if any bubbles are being produced there by escaping gas, but even that wouldn't be the end of the world as long as it's a very minor leak. once activity dies down in a day or two, you can return to your regularly-scheduled airlock.
fyi, you don't need to use that much sanitizer - no harm in doing so either, but you really just need enough to keep the end of the hose underwater (undersanitizer?). so instead of 2-3 inches in a wide bowl, you could have put 2-3 inches in a narrower bottle, vase, jug, etc.