A 25k pot would simply decrease the output impedance to the point that you would sound like crap. That's more of an issue with resistive loading against the pickup coils than the functionality of the tone control.
To my knowledge, the Tonestyler is simply a network of different RC filters. The behavior of each filter is certainly going to change as you alter the signal impedance, but you will just have slightly different effects from each position. The exact behavior of each filter is going to change with different pickups, and combinations of pickups in the signal path, anyways. It's quite difficult to pin down the exact frequency cutoffs, given the frequency-dependent nature of a complex impedance, and the fact that the impedance also changes with control settings.
1M Ohms is a rather uncommon pot value in basses, for two reasons. First off, the majority of players find some amount of resistive loading against the pickup coils to be desirable. (Though a lot of people prefer minimal resistive loading for a brighter tone.) Second, in some cases, the taper of the control comes into question with a very high value pot, since a series resistance is added between the pickup and output, that increases very quickly as you start to roll the volume down.