I have one similar set-up using orchid bark, but I use ones that are bigger and chunkier sizes and have mixed it with some regular cactus soil and kanuma to keep the media really fast draining. And since my plants are outdoors, it will dry up faster even if it rains. This is just one experiment I did last year around early fall, and currently the succulents I have put there are doing as good as it can go, considering that it is still cold being winter season.
As for your set-up Jojoe, I think that looks okay, however, since the mix is of the finer sized orchid mix, it might hold more moisture, so just make sure you do not water frequently, to avoid rotting of the roots. I have seen some commercial growers during plant shows using bark media in some succulents they sell. They do use shallower containers, so I guess that is how they manage the moisture aspect.
This is a photo of my succulent in chunky orchid bark/cactus soil/kanuma mix: photo taken today 18Feb2013..it has not rained for quite awhile now, but we are having mid to high 30's overnight and lately daytime highs of 70.