I am using a simliar approach right now. Week 1 I do reps betwwen 4-6, week 2 reps between 10-12.
Day 1: Vertical Push/Pull and triceps
Day 3: Quads, Hams
Day 5: Horizontal push/pull and biceps
cardio on 2,4,6 usually jumping rope. My only thoughts are that you seems to be hitting some of the same planes on your program in Day 1 and Day 5, and you have no direct Hamstring work. so, on day 3 I would rotate squats 1 week, deadlifts the next week and for the other exercise add either stiff legged deadlifts, good mornings, or GHR.
As far as Day 1 and 5, I would go with the vertical/horizontal method. So,example would be
BB Bent Over Row, Over Grip
BB Bent Over Row, Under Grip
Just as examples. I have found since I have broken up my vertical/horizontal movements my body is free of a lot of aches and pains that came from to many horizontal pressing movements.
Overall, great start. Remember to keep a food journal. Very important for me at least in loosing BF. Good luck!