Hmmm, if the negative of the WSV is tied to the negative of the Elk Aux supply I would have guessed that you could have just run the 12 volt monitor of the WSV directly to an Elk zone without the need for an additional relay.
Elk input zones are level sensors, comparing the voltage difference between the input zone terminal and the ground terminal. The Elk puts a 12VDC potential between the zone and GND, and checks if current (up to 50mA) will flow. The voltage differential won't change without a circuit through the WSV. If the WSV is putting out 12VDC, then the green wire is definitely not connected to GND -- so this case is OK: the potential difference stays as 12VDC. If the WSV is not putting out 12VDC on the green wire, that doesn't guarantee that the green wire is connected to GND, it could be floating. This second case will lead to no current flowing either, and the potential will stay as 12VDC also. I can check this out, maybe tonight.
I also worry (a little) about multiple voltage sources flowing into a single circuit ... there appears to be a possibility for (1) over-current, or (2) the input zone trying to power the M1G when it shouldn't. If ELK says there's no risk, then I'll regain a relay.