I think you can run that setup either way. Rumor has it that it'll spool faster putting the vent air into the top port, as the boost will act on both sides of the diaphragm and keep the valve shut longer. I added the rjc ball and spring boost valve to accomplish the same thing. For years I ran the spring that came with the car, which wouldn't let boost below 17psi with the dump pipe open. Never could find a lesser one, took one from my deltagate and made it fit, they are a bit smaller diameter but I forced it onto the plate that the adjustment screw pushes on and it works. What color was the spring that's in it?
Putting the bleedoff pressure back to the top of the gate is probably more reliable. Technically that is metered air (post maf sensor) so it shouldn't be allowed to vent but I doubt you notice any problems runing it the way you have it. Hopefully the spring is weak enough to let you run low boost when you want it. The spring sets the minimum boost level, if it's really stiff you are going to overboost no matter what you do. Your valve adds a controlled boost leak to fool the wategate, just like the factory solenoid does. And I guess if GM didn't care about metered air venting, then you shouldn't either.