I'd say the words slightly differently but near enough for a crossword clue. My beef is that there is no real indication it is a homophone, except the question mark, which I don't think is quite fair.
May I suggest you try the excellent WSJ crossword syzzie posted? It is very entertaining, with a great PDM. No homophones as far as I remember. Even the clues I suspect aristo and syzzie himself got in a moment but took me a bit longer- an American state and an Ivy league town, for example - are quite do-able.