Just in case it offers a useful option...
My bag top edge ended up in the same position as yours--just under the stem clamp and this is ok with me for a couple reasons: 1) this is a mid-trail bike and a front load is fine as long as I keep the bag mounted as close to the steering axis as possible. 2) Using an 11.5cm stem (measured along the top) crowds most non-adjustable decaleurs anyway.
What works for this build is to install the bag-half of a VO decaleur upside down and insert the pins into the decaleur tubes from below. This way it doesn't matter that the stem blocks the top of the decaleur.
https://www.flickr.com/photos/95075318@N00/14495265400/
There is still ample room for fingers although I don't ride the tops much, if ever. Closing the top requires a bit of tucking the flap edge under the stem clamp but it's not bad. Using the elastic loop closure requires the same awkward threading maneuver many require although in this case also blocked a bit by the stem clamp. Not a big deal in action since I usually ride with the elastic loop not fastened. When loop is fastened for off-road I am usually reaching into the bag from the side as necessary. The bag takes a moment longer to install and remove from the bike compared to a conventionally installed VO as I depress the bag fabric to get the pins under the tubes. Not difficult.
The photo shows the inserted posts sagging a bit and not fully inserted, showing the decaleur itself bears no weight at all. The sag varies depending on how much I load the bag. Doesn't seem to affect how well the decaleur tubes stabilize the bag, which turns out is as stable as any of my other decaleur set-ups.
One advantage of the insertion from underneath is the bag cannot fly out of the decaleur. Not possible. Theoretically the pins could sag out of the bottom of the tubes but usually I have to push down on the bag to get the pins out. Just to be sure, the blue line you see in the photo is a key-chain-cable-loop that rides on the bag-side of the decaleur. When I put the bag on I loop the key-chain-cable-loop over the top of the decaleur tube. That would prevent it from fully falling out of the tubes. I picked up the key-chain at H.Depot for a buck or so.
As deceleurs go, this set-up is cheap and easy to try out. Worst case, you sell the decaleur and and have three small holes in your bag drilled lower than usual.
Some have found the VO headset decaleur rotates on the steerer but I have not found this to be the case in this set-up. Perhaps because there is no weight hanging on the decaleur at all with pins inserted from below. I'm able to rotate the decaleur pushing it by hand, but it has not rotated during riding.
--Mitch