I think you need one of those skull and crossbones pics for this one. I tied it in paracord and pulled one leg of the eye, and the tail pulled out.
I have tied this eye knot using Sterling USA 8.0mm diameter high strength accessory cord.
I have also tied it using EN892 dynamic Beal 'Joker' 9.1mm rope.
In both of these ropes, I have found the knot to be stable and secure.
Note that the dressing is to a state where the knot is cinched
very tight and 'symmetrical'.
I have been unsuccessful in attempting to replicate the failure mode you posted in the human-rated rope materials I have identified.
#1024 (Honda/Bowstring knot) functions as a 'noose' - this one is an eye knot (fixed eye). Presumably it could be regarded as #1024 derived instead of #1046 derived.
...
Be that as it may, in my original post - I did make it quite clear that this is essentially an experimental knot and one that I have not exhaustively tested. However, in playing around with the Sterling 8.0mm and Beal Joker 9.1mm knot versions, I can induce no failure mode. On that basis, I think it is premature to declare the knot insecure or unstable.
I unfortunately agree with knotsaver in that is not jam resistant.
EDITED: Grammar corrections...