Frankly, I would love to see the data that proves this home pasteurization method works. I'm not one to buy in on something just because someone tells me it's so. As a biologist, I rely on this.
It is easy to kill viruses with heat, but not bacteria.
I do know that commercial pasteurization of in shell eggs works, because I have seen the data. And I know that the method is a good bit different than the one you describe. I would like to know the internal temperature the center of the yolk reaches. How does time differ depending on the size of the egg? Has this been tested on inocculated eggs? What level of reduction is achieved? I would not trust anything less than 4 log. Commercial pasteurization exceeds 5 log reduction.
Please consider learning more from the "expert" scientists at the FSIS, who have no vested interest in selling anything.
http://www.fsis.usda.gov/Factsheets/Focus_On_Shell_Eggs/index.asp