Yes, the original location is bad, but I suppose economical for the manufacturer. Your mod is a great idea and very neatly done!
I find it annoying that the "on" position for the hot water heater is up and for the water pump (and night light) the "on" positions are down. It seems like stuff like that should be more universal, up is always on and down is always off...alas...
We made labels (white shows up for quick reference in that dark area) for "on" only, so as to not confuse our brains. I don't always trust the light is working for the hw heater, but that's just me.
Thanks for the great mod idea skipi!