I can’t answer the question about hardness. We likely do not have Sherline bits suitable for turning tool steel, so knowing the hardness is important.
I think I have that same set of nut drivers, so here’s some other info.
- The nut drivers are about 3-1/2" long.
- The bits do not come out of the handles.
- Handles are hex shaped acrylic.
IMO, that’s too small to chuck up in the Colchester without working dangerously close to the chuck. And the Colchester chuck will likely damage the handles. Sherline is a good choice. The Sherline three-jaw scrolling chuck is your best bet due to the hex handles.
I think you are going to have a problem with that much overhang unless you use the steady rest.
IMO, and this isn’t required specifically for this but the discussion reminds me - we should also modify the steady rest. The steady rest has square support bars that could easily mar what they are supporting. We should take the three brass bars and put a hemispherical profile on one end of each of them using the radius cutter - or at least knock off the corners.
Why do you anticipate chatter on the outside as you turn this?