|| (low_count, >= low_threshold) ||
Was that comma supposed to be there?
if (pass_code >> 0){
Was that >> supposed to be > ? (>> means bit-shift-right!)
Correct, in theory. The code I and @alto777 posted might waste cycles that could have been avoided. From your original question, it did not sound like you were experienced enough to be aware of such things! The solution you are now proposing could prevent those wasted cycles.
In practice, in your example above, the second and third criteria are so trivial to evaluate that it will probably make no difference. But in an example where the second and third criteria are more complex, your method could definitely save some cycles.