I'm finding that your torque value, 7 lbf in, is acceptable, however you only have a Factor of Safety of 1.05, worst case scenario.
Your stress is approximately 22.3 ksi at the pitch diameter of the pin. This is acceptable for stainless steel but marginal for Aluminum 6061 Grade T6, rated at 23.3 ksi in shear. (Alcan listing, normal stress of 35 ksi)
I have found another listing for the material which gives a slightly higher value for normal stress, 41 ksi, hence I would exercise caution when applying the load(s).
Hope this helps you out.
Kenneth J Hueston, PEng
Principal
Sturni-Hueston Engineering Inc
Edmonton, Alberta Canada