This is bad.

That is definitely not right! I would not try and drive it until you resolve this issue. The bearings press on and then a lock type collar goes on after. It would be really hard to do it wrong. They do make a Green bearing with a snap ring on the outside of the race but these are used in different aftermarket Disc brake set ups. If your axles are butting you can shorten one or both axles by cutting a small amount off the end.