If all components (the two resistors in series with the phantom power supply, analogous resistors and transistors in the mic) are matched to within 0.01%, the voltages will be very close, within a few millivolts, and the "pop" caused by shorting the two lines will be mild, compared to that in real equipment made of affordable components.
I can't imagine what the 10k and 0.1 cap are for. They shouldn't hurt anything, but I'd take them out.
Take that 10k I said to take out and put it across the switch, It'll work fine.
A regular polarized electrolytic is probably okay here, as in normal operation the difference between the lines shouldn't be more than a volt or so. If you're worried (and it's possible with phantom power on for one side to be connected and the other not while plugging in and unplugging, or using a badly-wired mic), use two caps with their "-" ends connected together. If you're VERY worried, also put a 1n4148 across each cap with the band end connected to [edited, because I thought about it!] the cap's "+" side, so neither cap ever sees more than 1/2 volt of reverse voltage.
