My opinion is that the Tormek is a machine for finer tools like carving tools and chisels. Turning tools don't need an edge that fine and won't keep it if you do put it on there. The equivalent linear feet that a turning tool is cutting in just a couple of minutes is equivalent to using a handplane for weeks or a chisel for a year. A regular old bench grinder is, IMHO, all you need for turning tools. Don't get me wrong, a Tormek will work just fine for turning tools, it's just not any real practical advantage.
Regarding your lathe stand, I think you'll be fine with a "wing" on your stand. That extension isn't that heavy, you just need something to take the load off the attachment bolts. If it were me, I'd probably add a fold up wing to the stand and then have an adjustable roller stand on hand to stick underneath of it when it's lifted to provide stability.