How to use a CT to measure overcurrent?
Your basic idea is OK but a few concerns come to mind.


The trip points for this circuit will be set > +peak and &lt; -peak. That means that the over-current condition may not be detected until close to mid-point of the cycle.
The SCRs will remain on until the end of the half-cycle. You have no way to give an instantaneous shut-off. The SCRs or the rest of the circuit may be damaged as a result.
You have no protection yet on the comparator inputs for a major over-current, transient or surge.
The 2.5 V reference should be stabilised. Add some capacitance there.