It's an interesting idea but I think the spelling might be confusing to people. I'd pronounce it just like the name
Azalea, so maybe that would be a good alternative. It would still have the AUS and ZEA sounds in it, just with a different spelling that would probably be more familiar to people.
I'm sure your potential future daughter would be honored to have a name that reflects her parents, but it might be easier on her if it was a slightly more common name :-) Just my two cents!