No.
It's okay from L7 forward, but L1-L6 sucks bad from a consistency perspective (BB increases are 100%, 25%, 60%, 25%, 50%, wtf). Go with this:
L1 5 10
L2 10 20
L3 15 30
L4 20 40
L5 30 60
L6 40 80
followed by T5 removal, and then L7 50 100, etc. After the 100% jump at L2, every increase is either 33% or 50% (same as the almost the entire balance of your schedule from L8 on).
Even better is this:
L1 5 10
L2 5 15
L3 10 20
L4 15 30
L5 20 40
L6 30 60
L7 40 80
followed by T5 color-up and L8 50 100, etc. That makes every blind increase either 33% or 50%, averaging 40% over the entire tournament (L8 is only 25%, needed to transition to T25 chips). You can also improve it by using using 600/1200 and 800/1600 in lieu of 500/1000 and 700/1500, which only serve to add in another unnecessary 25% increase (instead of keeping everything at 33%/50%). T100 color-up occurs at the same level.
And fwiw, T5-base sets suck for PLO tournaments. The math is much less intuitive when using multiples of 5 to determine pot size and bets. T100-base is best, although T25 is still far superior to T5. If you're going to be playing big-bet Omaha with T5 chips, make it No-Limit.