Hi guys! The design works! At least mechanically so I've made this quick video to share this. It homes in a funny way and I managed to reach the whole 220mm without having to modify the printer. I'm so happy! The build volume is reduced of course because two hotends sitting next to each other and the room needed to switch them, but it feels good that it goes this far.
I'm going to figure out how this can be controlled during printing and I hope that this can be achieved in the firmware itself. If everything else fails I can inject my own gcode using LabVIEW so I can make it work, but this wouldn't be the preferred way. One way or another, I will be printing with two materials soon!
Just one thing I forgot to mention... It's also possible to add a laser engraver or pen plotter as a second tool. How awesome would it be to write on a 3D printed part! Dual quick tool change is what I'm thinking. OK, it's getting late, have a good one cheers!