Ed hit my opinion on the head. I think over time that style of turnbuckle will not react the way you want. The pressure, heat, cold and "step" purpose you are going to use it for will make it work loose. Have you seen you seen many "rope" turnbuckles being used on boats? I haven’t. Look closely at Craig’s pic. Those connections are static, they are not held by a coupler that moves like the Key in your pic. That component alone will add a lot more movement and friction possibly leading to fail.
Sure you idea could and might work, and not being an engineer I cant without a doubt say what will happen. My proposal was pilfer the huge amounts of trashed boats for something that has been engineered and tested for trim tabs – and at a cheap cost. I can go to the place local and see what they have if you want. Let me know.
Derek,
I'm not an engineer either, that is why I was asking for input form folks like Scott and John who are. That is the beauty of this place created by Eric.
T