Sincerely doubt that will work. The adapter itself is active, meaning: it needs power on that microUSB port to function properly.
Sure it will work:
xda-developers - View Single Post - [Q] Usb host on the go
Native host mode support is supposed to be added for peripherals even though it may not work at the moment. Sounds like using USB drives would require a custom kernel as it is in question that attachable storage will ever get officially supported in the stock kernel. But it's possible on this phone, and at $3, it's a good accessory to have!
Edit: Also went back and picked up the MHL adapter now that it's back in stock. Picking up a USB OTG cable and an MHL cable for a total of $11 shipped is a great deal. Props again to the OP!!!
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