Brian, this would work at any focus distance. It, and the Mamiya mount, is the real parallax correction method, not the ersatz moving frame in the viewfinder or prism and such which still suffers from parallax no matter what you do. So you focus, with or without a diopter as needed on the viewing lens. Then you move the camera so that the taking lens is in the same point in space, move the diopter if being used, and take the photo.
Parallax is the offset that comes from looking at the same object from two different points in space. Anything short of moving the viewpoint to the same point in space will still have parallax. Frames, prisms, etc. are crude ways to give a rough idea of framing changes, not much more.