Yes, I had not heard of it before this thread, but that's what 57Chevy described and that appears to be the design of the BorgWarner unit as shown in the YouTube video attached to their product web page. The magnetic coupling between the fixed winding and the rotor surrounding it is radially through the cylindrical area at the open end of the cup-shaped rotor, and axially through the other end. That's a magnetic flux path, with as low reluctance (the magnetic equivalence to resistance) as they could manage.