I would say it depends on how much of the yoke is actually engaged into the transmission. I had someone tell me that if you don't have enough yoke sticking in, it could cause problems, but they have a street/strip setup with a squeeze of nitrous.
The driveshaft yoke should be out 1 1/2" from the edge of the tailhousing to the face edge of the yoke. The last custom driveshaft I had made...... was done like this, and we had no vibration's or anything like that. Now..... this was for a street car, other people that race or the like, may see thing's differently. Just my 2 cent's.
I was going to space my leaf springs back 1" back so the tire would be centered in the quarter fenders therefore pulling the yoke out of the trans another 1".... I got to thinking about it I decided to leave well enough alone. To do it correctly I would need a longer drive shaft. Just didn't want to take my chances.
Its tempting to use this shaft, professionally cut, balances, New U joints. Mine is kinda ghetto, but it is 1.5 out of the seal, suspension loaded...No burnouts, no racing, just a 6 on a hairdryer with a 2.76 rear.
How much of the slip yoke is in the trans housing ? yes it can work, i have used longer slips to save customers money, you need to check how much is in the trans and what if any is the counter-bore in that slip yoke