Legal by 3-3-6(a).
I would note that in version 1, there is a risk of being called as an illegal inversion because someone might see it as being extended. It isn’t, because the hands are below the backspot’s head, and he’s the one holding her. However, the hand connection does go above the base’s head sometimes, and that might be all that a tech judge has time to see when they are looking at each thing going on in a routine. Further, it could be argued that the base of support on version 1 isn’t the hands, but the shoulders, since the hands aren’t directly under the top person. Her weight is being borne mostly on the bases’ hands and not the backspot’s hands. I personally don’t think it’s a big enough issue to argue about, and it depends on how it’s being performed which could change.