Who are you? :wink:
It should do what you want, (hold high until the beam is blocked). OR gates would work as well. Then you could connect the output of the OR gates to an SR latch, that way once one of the sensors is triggered, you would have to reset the latch for the alarm to turn off.
I just used a similar circuit as an optical encoder for my robot (microcontrollers final project). I also discovered that those 5mm LEDs fit perfectly into the holes of LEGO blocks (so if you need a convienent way to mount them...).