The idea to bypass the Duke of York, by doing so completely ignoring his rights as well those of Princess Elizabeth, Princess Margaret, their future offspring, as well that of the Duke of Gloucester and his future offspring, is so violating the Act of Settlement of 1701 that I doubt any Government or any Parliament was willing to enforce this and risking Pandora's Box being opened. Complete fiction, if you ask me.
The Reign of William III and Mary II can be compared with the result of an abdication. Of course, in this case the King (James II / James VII) has not abdicated but was deemed to have fled the country. The outcome however is the same: his natural successors (his daughter Princess Mary and his nephew/son-in-law William of Nassau, Prince of Orange) moved to the top position, later on their turn succeeded by King James' younger daughter, Princess Anne. So the "right to rule" in order of birth ultimately remained intact in this case.