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Sounds good
If youve sealed it by tightening the two parts with the rubber sealing ring in the middle (the mushroom stem part of the outer bit through the hole screwed into the inner cap) then its going to be water tight as far as you can go. It would have sealed pretty much to maximum compression of the valve port, so depth shouldnt affect it and you wont need the silicone. I did however add a bead of aquaseal around the valve so that the edges stay in contact woth the suit material, mainly to avoid stressing the rubber port too much.
Sounds like its sorted to me.
Help me out! I have a SI TECH valve on my DUI TLS-350. It's leaking. How do you unscrew the d@mned thing? It's more than hand-tight. Is there a trick to getting it apart?