328mm is 12.91 inches, so we'll call it 13". So from the outside of the rotor to the lip of the 16" wheel is only 1.5" more. That 1.5" has to fit the caliper and the wheel lip, so I don't think it will work.
Wilwood kits, like the one shown always have good caliper clearance, and the TE-37's are made for clearance, but the 13" wilwood kit on fastbrakes.com calls for at least 17" inch wheels.
You may somehow be able to get this to work with 16", but what caliper used and the offset of your TE37's will also come into play.
If it helps, a wilwood 12.2" set will fit fine. Why do you need 13" brakes anyway?