"May not be manufactured or cut lower than, amd must cover the slide up to, 1/2" below the ejection port." Appendix D4 2008 Handgun Rules.
My guess would be it is not legal due to the "Speed Cut"
FWIW - I use a Blade-Tech OWB - that is similar in size and design to the Mad Dog (it does not have the so called "Speed Cut")