We are working on cross server merge with game server. It means, all spells, talents, etc would work the same as on game server (right now yes, there can be some differences).
About server version, can you tell me atleast one difference between 5.4.7 and 5.4.8? Things like "gameflow, spellque, intervene". that you writed, they are doesn't related to server/client version at all.
It can fix tmorph only, but i don't think that we should update server version only because of it. It's too much time for such small benefit, right now we have a lot of other important things to do.