Should be fine, I throw out about 6 lbs of bulk grass seed from Rural King out on an access road every fall which turns into a clover field straight away. I bought clover seed one year, more expensive and I get better results from the cheap grass seed.
Timing depends on your intentions of use. In general its not too late but the later after September 1st the less development for fall use. So far we are having a mild to warm fall and cool season grasses are still growing. The point for early planting is establishment for wildlife food and strength to survive freezes. For spring use your timing is ok as long as the wheat gets a start before it rots or freezes out. the clover will be sparse but should come on by spring. For late season planting remember soil temp is the biggest factor after seed to soil contact.