I actually like it, though I like the history of
Margot. I think
Margaux would be better received, visually, and pronunciation would be equally difficult. If you worry about that, go for Margo...though its not my favorite spelling.
I would go with:
Ophelia MargauxMargaux EdithAmelie MargauxIsadora MargauxMargaux JamesinaPhilippa MargauxMargaux LeonoraMargaux PrimroseMargaux RosamundTamsin MargauxVienna
MargauxZelda Margaux