That will work. As long as the 3 timers add up to 60 minutes, it will operate on an hourly cycle. However, your first timer (Initial Off Time) will offset the cycle by 45 minutes, so it will turn on each hour at 12:45, 1:45, 2:45, etc. If you set it for 0, 2, and 58 minutes respectively, it would always turn on at the top of the hour; 12:00, 1:00, 2:00, etc.
Behind the scenes the Apex is just running the OSC command. Watch my OSC tutorial for a detailed explanation of how the 3 timers work: