I was asked to expand on my rather terse observation early on.
Oxidation is totally what I would be worried with trying to use this "sock" in free air and pouring wort through it to a receiving vessel. With everything exposed to oxygen through the process there's no doubt some degree of oxidation will occur - and that degree could range up to "fatal".
As I understand the current scheme, the filter would be positioned along the side of the receiving vessel such that the output would "slide" down the sidewall. Sounds good - except that will spread out the flow, increasing surface area vs volume, which will increase exposure.
Bobby's idea of purging the receiving vessel with CO2 will help, but with the lid wide open the whole time the beer is transferring, it's likely the benefit will be modest. Air will find it's way into an open receiver, period. And if the filter loads up way before the batch has passed through and the flow slows to a dribble, the surface area vs volume goes through the proverbial roof, and it's totally Game Over for that batch.
Thinking about this a bit, if the filter could be housed in its own vessel with only an input and output port that could be coupled via tubing to the sending and receiving vessels, then purge everything from end to end with CO2 prior to starting the flow, and then push with CO2, that would cut the exposure dramatically - maybe even completely.
Whether the filter will actually make it through the whole operation before it loads up so badly it won't pass beer is a whole 'nuther story. I would definitely rack way high off the trub cone until the very end so as not to risk quickly loading the filter - and even then consider leaving a solid couple of inches of beer behind in the fermenter (rack the remains to a couple of 2 liter bottles and carb them with a cap rather than risk the bulk of the batch).
Oxidation happens. It's a major concern for "real" breweries such that they measure O2 pickup during packaging in microliters and do all kinds of things to try to get to zero. This scheme above is pretty much starting at the complete opposite end of the scale, and if not addressed the result could be undrinkable in short order.
So there you go...Mission Accomplished...
Cheers!