Hmmm, I'm not sure that will be strong enough. I had a terrible time trying to get the hubs out, they were really stuck in there. Also, you'd have to verify that it will accommodate the size of the bearings; the 4.007 might be close.
And I agree with singtoe, that bolt looks a bit short for the double bearings of the 4runner.
Also, the press is only $30 more and is a much better tool. Why would you go with this one? The alignment isn't that big a deal.