Jeroen:
Nice work and certainly solves the problem.
Will a 5C collet fit inside a MT4.5? My lathe has a MT5 in the spindle and I was able to make a MT5 to 5C adaptor. Add a draw tube to tighten the collet and its ready to go.
(http://www.currin.us/MEM/Shop/5C-1.jpg) (http://www.currin.us/MEM/Shop/5C-2.jpg)
I've found it incredibly useful. I even found it can stay in place with a 3 or 4 jaw in place, so it can be used for a chuck stop also.
Thanks for the write up.
Hugh