It looks good, but for some reason I'm not able to enter data to test it. (Just got a new system, new version of Office, etc. - haven't worked it all out yet!). I'll try again once I figure out the problem...
The only caution I would give - accepting the hours from the bi-weekly paystub should be a last resort, since the hours are supposed to be calculated on a weekly basis. The spreadsheet might give the impression that weekly or biweekly are equally acceptable, which is not really true. But I understand how difficult it might be for some people to find that data after-the-fact, and sometimes you just have to do the best you can.