Not a bad workaround. Could be even better if there was a way to formally tag Templates* and pin them somewhere quick and easily accessible.
Otherwise, depending on how many other Projects there are in the list, you could end up hunting for the Templates buried somewhere in the list.
* I note you’re not making any use of the slide-right/drag-right gesture on Projects in the Projects list.
Toggle a ‘Template’ tag – or simply to toggle ‘pinned/favourited’ tag? (With a new section appearing in the Projects list containing any pinned/favourited Projects. (If none, then section doesn’t appear.)
Instinctively, I’m thinking…I’d move Delete to Slide-to-Right, away from all other ‘use/create’ actions.
Duplicate | Duplicate & Open | (Toggle) Favourite
Though you could probably dispense with one of the two ‘Duplicate’ options, leaving the one that most aligns with the most common next step after a Project is Duplicated. (My guess would be that the Duplicate copy is, in most cases, immediately opened. If that’s the case, it may make sense to role the Opening into the action, effectively making it an ‘Open as Copy’ action.)
Anyhoo, I know you’re not particularly seeking solutions, per se, but consider that merely as the as-yet-untested contributing opinion from an Auxy user and UX professional.