No despair at all, if your not sure it would be foolish to not ask. Depending on the tool diameter, depth of cut and feed, it may not be a real issue. As a general practice, it would still be better to have the milling heads spindle retracted and locked while making your Z axis elevation changes by lowering the whole head for a few reasons. And cutting tee slots would in my opinion be definitely one where I’d do so. You already have a fair amount of collet chuck and tool length below the spindle bearings. And secondly, doing it that way moves the head down on the column which also helps with increased rigidity. The trade off I suppose is the head obstructs seeing the cut a bit. For parts like your doing, the common 1″,2″,3″ or 25, 50, 75 mm blocks are a handy and reasonably priced accessory for raising any part for clearance etc.
Unless there’s good reason for using the spindles Z axis such as a protruding feature on the part or caused by the part clamping. I keep my spindle retracted and locked and make any Z axis moves using my BP clones knee. Drilling, tapping, boring, reaming are about the only time I make use of the spindles Z axis movement. You also did a good job of moving the tee slot bolts as close to the part as possible. 👍