Alright!! I burned it and tried it out on both systems. Seems to work well except for the intro which is a bit peculiar. Here's what I noticed: The title screen song is too short on the Sega CD (when using the Turbo music) and you end up looking at the title screen for 10 seconds or so before the demo begins. There's really nothing that can be done other than use the Sega CD music. However the demo is what is weird. I used the Sega CD audio track since it has the cool narration, but the Sega CD cuts out and changes scenes even before the narration is finished! That is extremely odd, especially since it is the proper Sega CD audio ripped right from the CD. The TurboGrafx version of the intro also cuts the guy off before the track is complete. This is all very odd since the music starts exactly when the graphics show up. Did you change the timing or something?
Other than that it all seems good! I haven't played through the whole game yet, but I imagine the dialog probably gets cut during the cut-scene before the final level as well, especially on the Turbo which used a shorter version of the music.
EDIT: I double checked. The first part of the intro is only running at around 1:18 when it runs at around 1:31 or so in the actual game (Sega CD versions compared). Let me guess: You used the PAL version of the Sega CD LoT.