If you have three complete threads engaged and the screws are a good fit, not loose, I'd say they will be good. Certainly better to use blind threads in such a bush from the standpoint of less places to have a steam leak than with through-holes.
I have seen a lot of things in Martin Evans designs where a bit more care, as in a deeper bush / blind holes in your locomotive for example, would have made for a far better design. He frequently designed things on boilers with really short threads hanging in just a wisp of material. On his Comway design, the regulator casting is drawn machined with .008" of metal between two drilled holes over 1.25" deep. Unless you know a couple of tricks to do this drilling, the drill will break through spoiling the job. It could have been easily avoided with just slightly different design. Impossibly small springs on lubricators, as drawn, are another trademark. I am not a fan of Mr Evans. (the loco designer, not the current ME editor )