I like much of that although it might be particularly difficult to build the walkway between the west end of rebuilt Oxford Road and the east end of Deansgate-Castleford Metrolink. Probably best to go over the existing tracks on the viaduct, with a new connection over Whitworth St W at the east end of the Metrolink station. A pair of tracks can fairly easily deliver a technical headway of 30 tph in each direction for non stop trains, even with colour light signals rather than any new-fangled ETCS overlays as per Thameslink. It is the platform dwell and consequent reoccupation time that defines the achievable headway, together with the constraints in this case of the flat junctions. With Deansgate main line station and the current pedestrian link bridge gone there might be space to create a grade separation for the CLC eastbound line to fly over, moving Metrolink over onto the disused bridge. I see using the old bridge as less of a problem than many have expressed above. Any concerns about the structure's condition can be sorted out 'offline' before any railway reconstruction commences and as it was a three track alignment before there should be no clearance problems encountered accommodating a simple pair of tram tracks, indeed with room to spare to create a safe parallel access way for maintenance along its entire length. The trams are lightweight and short so should not exceed any original design loads. The current tramway bridge, which would be taken over by the eastbound CLC flyover, would only need to accomodate a single track so, again, clearances and loading should not be a significant problem.
Two directional islands at Oxford Road would be ideal but very expensive and possibly difficult to steer through any heritage restrictions applying to the listed station. As that layout is proposed anyway at Piccadilly, which among other things allows easy cross platform interchange there, it probably isn't worth it also at Oxford Road, which is (presumably) the conclusion NR already came to years ago when the project was being planned. I assume the redevelopment design and passenger flow analysis already takes into account the likelyhood of substantial numbers of peak time people waiting 'railside' in the concourse or on the bridge to see which platform the next train in a particular direction will use. My over-track walkway option would join directly to the west side of the rebuilt footbridge.
I'd also build a grade separation at Ordsall Lane Jn. Non of the Mark Whitby suggestions though, rather a diveunder taking the Windsor Link pair under the Eccles - Victoria Connecting chords also incorporated for Eccles - Picadilly, but not for Salford Cresent - Victoria as those trains can go via the other route avoiding Orsall Lane entirely.
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