Should work fine, just another kind of concentric recycler. Just make sure the inner column decreases in cross-sectional-area as the outer one increases. Disc perk in the centre chamber, intake just under it, stemless passing through both walls to the centre, and holes connecting the inner and outer chambers well below the level of the intake to allow cycling. There'll have to be a flow restriction in the drain chamber too, or you won't be able to get the water to build up in there. Probably easiest-managed by bringing the centre chamber's walls really close to the outer walls.
Also, this type won't whirlpool, because it drains through a ring-shaped opening, not a tiny round one. The level will just recede slowly and uniformly when you stop drawing, which looks less cool than a whirlpool, which is why concentric recyclers usually drain though the centre chamber rather than the outside.
Suggestion: Make the output hole to the centre chamber reasonably small (<1/4" or so), and then angle it and use it as a foam jet to get some rotational motion going in the outer chamber. As-in, instead of spraying upwards, it bends to the wall, then bends again to aim its jet such that it gives rotational momentum to the foam dumped in the outer chamber, such that it spins round the piece as it drains. You could have two or three such jet tube exits, evenly-spaced around the can, but that'd add cost/complexity, and just one would also work. Would have the advantage of fununctioning as a pretty good splash-guard, too. Or, the top of the centre chamber could be cylindrical, widish, and have rotaty jet holes picked and angled in a ring around the top of it. Probably easier. Lots of approaches though...
I placed an order for the inline only, and the one I saw did not have a scalloped bowl...I ended up getting a unit with the honeycomb and a scalloped bowl. Not a big deal, but weird. 
