First, congratulations; that's an ambitious mod. The basic concept is cool (i.e. being able to switch between single-speed and internal-geared), except cold-setting a 120mm spaced-frame to 135mm to me is pretty extreme. A big part of the appeal of the S1/QB is that it IS a single speed and it has 120mm rear spacing. If you want gears (let alone a 14-speed Rohloff), why are you starting with a 120mm SS frame and (forever) altering its genetic structure? And how can you ever go back to SS (in good conscience) as a 135mm-spaced SS??? Besides, there are other gearing options without having to cold set. For example, you can get creative with a dual-speed freewheel and double crankset to at least stretch your SS into a 4-speed. Or you can choose a 126mm internal-geared hub (like a SRAM/Spectro P5 or S7; granted not a Rohloff, but a nice durable hub). I use a Patterson 2-speed crankset which extends my S1 to climb moderate hills. Add an S7 hub, and you've got formidable gear range.
OK, blah blah blah... fact remains you've already created a Simple-14.. at the very least that's audacious, diabolical and totally Frankenbikish, worthy of props... so I'll give that a big Dr Evil "MBWAAAHAAAAH"!!!
Peace,
BB