I would recommend a minimum of 1" thick even if the slot is only big enough to admit a 1/4" tool. A lock nut on the height adjustment screw would be good if the screw is free to revolve under vibrations. At least,drill a hole in the screw and insert a nylon plug(which is not really a permanent solution).
In all honesty,I can't see that this design offers better visibility than the Aloris. And,as pictured,you have to find the Allen wrench to change tool holders. Even with a handle,this design is not going to be as solid as a wedge type tool holder. It's tool holders rely upon a comparatively small center post that is stalky compared to the solid,square body of the Aloris type tool block. The large square Aloris type has a much larger surface area coming in contact with the top of the compound. The tool holders are not hanging out so far,with nothing to support them but their own thickness and the single height screw beneath.
Just look at the design carefully compared with the Aloris type. It does not take a engineer to see that the Aloris is more rigid. Also,the Aloris is repeatable. When you drop the tool holders onto it,they are held at exactly the same angle to the work that they were last time. The alternative tool post lets the tools freely rotate where ever they will.
Look at the Aloris type: You can get repeatability on 2 surfaces 90º apart. On this tool post,you have to swivel the tool holder about,with no way at all to achieve repeatability.
For those newbies who may not know what repeatability is,it is the ability to have pre set places on your dial where you can drop a tool holder on,set your dial to where it will produce the same diameter as last time you made this cut,and proceed.
This is not so important unless you are making multiple parts. It depends upon the work you're doing.In general, the Aloris is superior. BUT,if you don't want to pay for the Aloris,and just enjoy making your own tooling,the alternative tool post is doable,without complex internal parts,angled dovetails,etc. to make.