It looks fine to me too. Remember there will be more "slack" or twist on a cold engine than a hot engine. I like to check it both when cold and when hot. As long as there is not excessive slack when cold AND still is at least a little slack (and 45deg twist ability) when hot, then it's fine.
If it becomes taut like a guitar string when the engine is hot, then that is too tight. Or if it's too slack and slaps the timing belt covers when the engine is running while cold, then that is too loose. Anything in between those extremes is good. It's not a very precise science.
I think that engine went into that car right at 399,000 miles. I remember it turned over 400k with the diesel in it, and the timing belt was new when the engine went in. So at around 40k miles and what, 8-9 years (?) on the belt, probably still have some life left but might want to start thinking about replacing again in the next year or two, based on time rather than distance.
