The compact double crossover does come with a few minor compromises:
1. More complex/expensive/risk of derailments/etc. than two separate crossovers due to the use of the actual crossover piece itself
2. Any normal double crossover installation (without the cross) can function as a passing track because something could be parked between the crossovers and bypassed by using both crossovers in succession.
3. Creates the added risk of a collision in the actual crossing if operated carelessly.
In your layout, the crossover that runs parallel to the edge of the layout might be able to come down and connect before the other crossover to create a normal double crossover.
All that being said, I like the layout of your crossover a great deal. Trains need to make the crossover to get from one end of the track to the other, and the way the crossover is integrated between the loops disguises what is actually going on. It looks like a train on the crossover is actually on a loop.
