I cannot share a Toyota specific experience. BUT, I can share my experience with others, which may help. When flushing the entire system of Chrysler 41TE automatics (mini vans, stratus, etc.) with MaxLife ATF, the shift quality did change, almost as thought the trans was 'lugging' the engine a lot rather than downshifting under mild to moderate throttle. The upshifts seemed to come too soon, as though the trans wasn't holding the gear long enough; again lugging the engine. I didn't see any real harm from using a total fill of MaxLife ATF, however. But because I drive cars to high mileage, I still wanted to use the ML ATF. So, I experimented and found that using a blend of 50% MaxLife ATF and 50% ATF+4 seemed to work well, with no noticable side effects. The transmissions shift and operate as though they have 100% ATF+3 or +4.
If your Toyota transmission requires a highly friction modified ATF, like chrysler, maybe using a blend will allow you to have the benefits of the ML ATF, yet keep the proper shift qualities that the T-IV provides. It has appeared the MaxLife ATF does clean the trans, so if you see black, sooty particulate in the fluid, don't panic. It may be a sign to perform another ATF & filter change to keep cleaning the trans. Best of luck!!