Actually, the only way I can make this exercise works is by symmetrizing further the two expressions by looking at the $\text{Tot}^{\prod}$ of each terms of the equality.
So we get $$\text{Tot}^{\prod}(\text{Hom}(\text{Tot}^{\oplus}(P\otimes Q),I))\cong \text{Tot}^{\prod}(\text{Hom}(P,\text{Tot}^{\prod}(\text{Hom}(Q,I)))$$
which should be added in the Errata for the H-Book of Prof. Weibel to save us a lot of time !