Yes.
The top of the action is filed in much the same way that an O/U shotgun would be with a raised rib and the fences tight inward and dropped low in relation.
Look at virtually any big bore double rifle and the fences/balls (whatever you want to call them) are the widest part of the action by quite a margin. This allows for the head of the stock to butt flat against the action without protrusion.
Small bore double rifles, even the British makes, are less wide across the breech in relation to the action bar width which stands to reason.
I guess there is naturally going to be some attempt at reaching a happy medium when building a double with 470 and 375 barrels. Don't want it too heavy for a 375 or too light for a 470 but if they had widened the breech by just a bit, they would have been able to avoid the wood protrusion.
I agree that the wood is just waiting to get chipped off there and although I would dearly love to have a best Purdey, I would not accept the protruding wood on a bespoke gun from any maker. There is just no good reason for it.