It is or is not OK for you depending on your goals, or how fast you wish to reach them.

But first what original Atkins 1972 says (thanks to Jo) here:
http://forum.lowcarber.org/showpost...928&postcount=3
And Atkins 2002 induction foods and rules are above at the top of this Atkins forum.

Nuts are not in either of them and both plans also count Total Carbs, so using flax is out because that carb level does not leave much room for a variety of other nutrient dense foods.

Are some people able to add those foods later in the plan and still lose weight? Yes, but the only why to find out if this cereal would work for you is to try it for 2-4 weeks, note results and decide based on the results you have.

Dr Westman has explained the reason there are no nuts is that patients have a hard time controlling amounts and they are calorie dense. You would likely feel more satiety eating bacon and eggs calorie per calorie. His clinic counts total carbs in flax and all foods because some fibers may be digested, it is the stronger "Medicine" than counting net carbs. It is prescription strength in the clinic versus OTC in the 2010 Atkins book. And in the end, although it is not necessary to count calories on a LCHF diet, calories do count. (See first link, the answer from 1972 book there and I have many other quotes from both Dr Atkins and Westman on this topic)