Interesting design, I hate to pick holes in it but you never know, it might be constructive. Firstly that bolt is undersized to be taking a lateral load like that. Threaded bar/bolts are designed for stress in pure tension. Sure you can use them like that but threads are horrible stress concentrators and that bolt will fatigue in time and may not show signs of it until it fractures.

Have you got any specs for those rose joints? That looks like one of the ~$20 items you get from the bolt shop and for the price I would like to know their rating because, and this is the most critical part, if ANYTHING lets go in this setup you may die! In any other standard/aftermarket setup they only rely on a spherical bearing/rubber bush to resist the shock loading and the corner weight of the car is always resting on the strut tower. If your bolt breaks or bearing craps out then the corner of the car will collapse and seize the front wheel.

I think the idea has legs but reckon you need to find a way to fail safe the design if you are going to be hitting ripple strips on the race track.