I'd say this is no good. I think everyone's touched on my reasons, but to reiterate:
1) As KootK pointed out, LVLs should NOT be used outside. I like to think of them as really thick plywood - have you ever seen plywood after it gets wet a few times? Even exterior rated adhesives is susceptible to long term wetting (or even short term along the edges where the moisture can work in between the plies).
2) Temperature and moisture variations combined with variable wind loading will loosen the connection over time. If you let the beam into the post, no big deal - just tighten them periodically if you notice it. Like this, the failure is more likely to be sudden and catastrophic. Letting it in may not be a requirement for engineered connections, but from a judgement standpoint I don't detail exterior connections without bearing unless it's absolutely unavoidable. In those cases I try to develop some additional redundancy. Unless I'm mistaken, the DCA6 was written in response to a demand to reduce residential deck collapses and the associated injuries. While other engineering options may be available, these are "best practices" to help ensure a resilient structure and I'm hesitant to provide a "less" resilient design.