Short answer: NRE shows this route for half of the journeys, and valid on a single ticket. It's also a perfectly reasonable route so it should be accepted.
Applying the Routeing Guide, the following constitute Permitted Routes: 1. The route taken by direct trains from origin to destination
None here. 2. The shortest route used by scheduled services
Which is Basingstoke-Woking-Guildford-Wanborough 3. Mapped routes
Wanborough has associated routeing points of Ash Vale, Wokingham, and Guildford. Guildford fails the fares check, and Wokingham doesn't give any routes as there is a negative easement forbidding travel via Reading. Basingstoke-Ash Vale has mapped routes on map LE, which allows Basingstoke-Woking-Ash Vale-Wanborough or Basingstoke-Farnborough Main-Farnborough North-North Camp-Ash Vale-Wanborough (should you wish to stretch your legs, presumably).