I have been trying to insert suitable thanks from me and Flare Forum and the fandom collectively to every message...Speaking of which, Okuda agrees in the latest reply that the model seems as if it could telescope, but apparently this feature was never really built into the study model. Nor do the pylons actually swing in the current model. An actual photographic model, if built to these specs, would probably have had a fully telescoping body and swinging, articulated nacelles.
Interestingly enough, the nacelles have broken off and been re-glued to a different position several times. The most recent accident was after the filming of "BoBW", so it seems safe to assume that the nacelles were arranged differently during that episode, just as the screencaps show.
Timo Saloniemi