You will lose dual channel operation with it's significant memory bandwidth advantage. Whether that proves problematic depends on how badly the application needs the memory as even single channel performance would be a lot better than hitting the swap file when it runs out of physical memory.
I'd explore flipping the mount of the AIO water block. Hopefully the fittings will clear the VRM/heatsink, although you may also need to relocate the radiator so the hoses reach.