Just had a quick read through this design, and I can see one problem with it.
In case of a phantom fault (shorted cable, hotplugging, etc), there will be a 48v spike on the power rails.
That could kill all the chips on the board, including the regulators in the supply.
The supply rails need enough capacitance (several times the input caps) on the power rails, to dump the spike in.
And 18v TVS diodes (e.g. P6KE18).
If there is enough capacitance on the 15v rails in the supply, adding two TVS' might be enough.
All of this is explained in the THAT phantom protection datasheets.
Better be safe than sorry.
Leo..