Hey Jeff,
I think it's valid.
Showing the full, slow rotation lets us see the maximum points.
How would you easily "clock" the cutting edge directly under the indicator tip....not easy.
As
@RJSakowski stated earlier it's the difference between the two edge maximum readings and we can see that from the video.
The only thing I would do differently is to rotate the centre drill the other direction for two reasons:
i) not presenting the sharp cutting edge to the dial-indicator tip; that is making the ball climb up the larger sharp step, and
ii) it would be easier to sneak up of the maximum reading as you'd be slowly climbing the relief.
Just my thoughts......
-brino