I too have been thinking about this problem. The only way I can seethe taper being held correctly, is to use a 2 piece extension. This could consist of a cup shaped lower section, it's bottom would be machined to match the track rod end taper. This would allow the joint taper to be fastened correctly with the lock nut.
The upper inner edge of the cup section could be threaded with a large fine thread. The upper section would consist of the taper and thread as on the current single piece extension. On the lower part of the upper section would be a thread to screw it into the lower section. There would need to be a shoulder on the upper section to tension the thread. This would prevent bending and help keep dirt and water out.
Hopefully that makes sense.
This is I feel, the safest way forward with this idea.