To see what happens, let your Noether wheel rotate about a horizontal axis (that is, rotate vertically). Then the doubled radius will still be optically masked in the horizontal direction, but not so in the vertical direction. Hence you get a 2:1 vertical ellipse.

The optical contraction in the horizontal directions, found to be valid downstairs using the Noether wheel, implies that light will be seen to “creep” downstairs at halved speed when watched from above. This is what Einstein already found in 1907. So everything is fine.

But: does light really creep down there? The answer is no. For the distance travelled is doubled compared to above.