I've got no clue at this point how the wait times will go for Simpsons, but I'm guessing that it will have a higher hourly capacity than Mummy, which is why I lead off there and chose the clockwise route.
We stayed at Universal for four days at the Royal Pacific and could not have been happier.
However, if you are only going for the day, your touring plan works fine. I would probably just go Mummy -> MIB -> Simpsons -> ET -> Jimmy Neutron -> Shrek 4D, then done. The Terminator attraction is always less busy after about 3:00 in the afternoon, so it is a good one to hit if you come back to the park later to watch Universal 360 (keep in mind, this night time extravaganza only shows during peak touring times like summer, spring break, Halloween).
However, your plan is just as good, it all depends on what attractions you feel are the most important.