Well I like it. It seems like a very smart thing to do, especially since Russia is going to be around in all foreseeable future.
The only thing I might imagine they could do differently would be to identify the king of the north as something more generic, "specific groups that currently oppress Jehovahs witness". That way the king of the north could be hinted to be Russia so powerfully every JW would believe it, but they would not be liable in the same manner officially (like, just make a video where it says: "the king of the north are those who oppress Jehovahs witness as an organized group" and show a shot of Nazis and (current) Russian military police. Everyone gets the hint). Also if Putin is thrown out tomorrow and Russia turns fully democratic (not super realistic but it might happen) a new "king of the north" bogyman (Islamic dictatorship, china if they suppress JWs, etc.) can be pulled out of the hat with little liability.