The Hobie Wave that I sailed on holiday was set up like you describe (are they all really set-up like that?) and sheeting was an absolute pain! Admittedly the 'traveller' was just a block running on a piece of SS wire, but I commented several times that if it were my boat I'd have to change the steering to a more normal arrangement.

Also although the Wave didn't have a tiller extension, I expect your Prindle has. Have you thought about where that goes when you tack/gybe? You could have a 'cow horn' type extension but these bring their own problems.

I can't see what your hoping to achieve, as in more than 30 years of cat sailing I can only recall one occasion when my hand got even close to being caught by the traveller car during a gybe and then it was because I was off-balance in a big sea with winds around 35mph. Your gybing routine is just something that you eventually perform without even thinking. You get used to it.