That's clever, I've never seen it drawn that way before. I don't know that I agree with all the arrow pushing, but I see where you are going. I'm not really sure of the proposal for how phosphines reduce Pd(II) to Pd(0); it's much more common with amines really. Out of curiosity, what was the solvent for your reaction? It's known that you can reduce Pd(II) to Pd(0) with solvents like DMF, but that's another kind of bizzarre mechanism.
I guess I would draw it first by transferring a phenyl group from triphenylphosphine to the Pd, so that you get a Pd-phenyl bond and displace one of the Cl atoms. Then you can draw a reductive elimination to make chlorobenzene and Pd(0), or you could transfer another phenyl group and reductively eliminate to make biphenyl and Pd(0). I guess I would favor the latter, although it does seem kinda strange. The phosphines that give up the phenyl groups would probably end up as phosphinic acids (I think).