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There is 1.5” of that yoke section exposed when the driveshaft is installed, which leaves 2.25” of slip yoke that sits inside the T5’s tail shaft. This doesn’t seem enough to me. Your thoughts?
You're mainly concerned a) that the yoke stays securely on the tailshaft; and b) that the driveshaft doesn't bottom out against the tailshaft. I've had a few driveshafts made (including for the T5 in my 1949) and when measuring, I was running off a recommended (by the machine shop) 1" minimum travel when the vehicle was standing unloaded on level ground. That's worked well for mine, driveshaft works like a charm. When I say "travel" that's the distance between the end of the tailshaft and the inside end of the driveshaft yoke (or the travel of the separate slipyoke if you have a fixed yoke on the output). 1" frankly doesn't seem like much at all.
If you've got 1.5" of travel and it isn't in any danger of popping off the tailshaft when the suspension is at full travel, I can't see that being much of an issue. "Should be" in no danger of bottoming that against the tailshaft either. If you have a good tight fit on the splines and the lions share of the yoke in contact then it should be darn stable.
All that said, you have to use your judgment on that since it's in front of ya. You can see better than us, if there's something going on that might change that.