Low voltage (<3V) signalling on USB DP/DN - will it work?
The voltage standard for USB is based on a loss over a certain cable length.  If you are using this in a known configuration for a single use setup, you may be fine.  But I would expect issues with lesser quality cables or getting close to the lengths people expect USB to work.

For a reference to this, USB3 is 1 V signalling, with a 100 mV required at received.  I would look for the minimums for USB2 and see how large of a margin you still have.