Sorry I'm late for the party. You've got it right, obviously, but there's one little detail: since your bass circuit is active and switched by the output jack, it won't be on if you use only the GK cable. For you it isn't a big problem, because as far as I can tell from your schematic you've got a passive mode.
On my installation I made a little circuit that switches on the active electronics when power arrives from the GK cable.