Nice job re-purposing something to fit your needs. With the chock/clamp in place, I don't see any stability issues unless you're using it as a jungle gym.
I had that thought the entire time while I rode the bike up onto the lift, you'd be surprised, there is foot space. Another thing was making sure I wasn't catching the bag on the corner of the post. So it is a bit tricky. I could always put a piece of 3/4 there just to support me.