You tell us - does it work or not? Sounds like you're having some trouble. With the monitor button on, any gain changes you make affect the signal twice. Once on the jumpered path and once thru the monitor path. I wouldn't think that's linear. My guess is the higher the gain setting, the more the SVU and JB3 drift apart, with the SVU displaying artificially high levels. Just a guess.
Enough guessing - time for you to test it.
Take some FM hiss from your stereo and use the headphone out > UA-5. Confirm the monitor button is on and adjust the UA-5 input until you're at a steady -3dB or something like that (as read on the SVU). Record it. Now drop the volume on your stereo and turn the UA-5 gain up until you're back at a steady -3dB on the SVU. Record it. Compare the levels on the 2 recordings.