I built squashfs-lzma for TC 1.x, and it could be integrated into a person remaster to use squash-lzma extensions. It is in the extension area. Same as regular squashfs for TC 1.x, all one would need to do include the module in the iso and modprobe it in tc-config. As stated, squashfs will be a supported tcz format along with cramfs and zisofs in TC 2.x since squashfs is in base TC 2.x.
However, also as stated, squashfs-lzma will not be a supported extension format as it incurs a performance loss that is not found with standard squashfs.