NL25 Sanity Check: Nut Flush draw all-in on flop for fold equity

[automaton_22]

Is this a maniac play?
Or is my reasoning sound: I more than likely even money if he calls, and have a whole lot of fold equity.

Absolute Poker
No Limit Holdem Ring game
Blinds: $0.10/$0.25
6 players
Converter

Stack sizes:
UTG: $50
UTG+1: $41.05
CO: $57.85
Hero: $49.20
SB: $83.10
BB: $49.33

Pre-flop: (6 players) Hero is Button with A[img]/images/graemlins/diamond.gif[/img] Q[img]/images/graemlins/diamond.gif[/img]
<font color="#cc0000">UTG raises to $1.25</font>, UTG+1 folds, CO calls, <font color="#cc0000">Hero raises to $3.5</font>, 2 folds, UTG calls, CO calls.

Flop: 8[img]/images/graemlins/diamond.gif[/img] 8[img]/images/graemlins/heart.gif[/img] 4[img]/images/graemlins/diamond.gif[/img] ($10.85, 3 players)
UTG checks, <font color="#cc0000">CO bets $8.5</font>, <font color="#cc0000">Hero raises all-in $45.7</font>, UTG folds, CO calls.

Results:
Final pot: $102.25