Myriadtoken would be a Counterparty asset to (crowd)fund a project but using MYR's (sent to a burnaddress like MYRXXXXXX) to receive a Myriadtoken in your Counterwallet address.  The funding can be a combination of btc (let's face it, the developers of this project have to be paid) and sending MYR's to a burnt address.  The keyword here is the "project".  There are many tokens issued on Counterparty that have no useful purpose.  Storjcoin and Bitcrystals are obviously successful as the projects were very good and the market understood that.

Unfortunately; to address your statement, yes Myriadtoken would not have anymore connection to Myriadcoin after this (crowd)funding period has ended.

Now, if the project Myriadtoken was to somehow be used as the fuel of the SMS Myriadcoin wallet/payment/system that never got completed due to a requirement for a centralized server (I read this somewhere), then there would be a seemingly continuous link between Myriadtoken and the Myriadcoin.  Unfortunately, just thinking it through, I already see a problem as the Myriadtoken would travel at a much slower pace (due to the bitcoin blockchain vs myriadcoin blockchain speed).

Anyway, whatever project that Myriadtoken may serve; the only link to Myriadcoin would be during the conversion and the effect of decreased Myriadcoin in circulation.  After that; they are separate and different entities...

Make a fork of Counterparty to run on the Myriadcoin blockchain I think is very difficult.  I'm no developer so I can't say for sure but I follow the github of Counterparty and there's lots of activities and commits almost everyday...please