Trevj....
just what I had mind for my design ....I don't need the 7/8" threaded shank....just a smooth 7/8" (maybe 1" in lenght) up to a ring the size of a Forster split die ring....then another a smooth 7/8" section to clear the top of a Forster Coax press..then the cutting head like you have. The punch could have a .473 rim that the Coax shell holder jaws would close on....the upward pressure would be on the flat part of shell holder base. The bad part is...I don't have a lathe and my access is more limited now than ever! I wouldn't even need the wrench flats either.
Jimmy K