I had a home made one years ago that was based on a very simple (single circuit) brake master cylinder. It worked perfectly, but it needed the reservoir filling up every few strokes.
The 'proper' ones were a two stage affair that would firstly 'suck' to evacuate the system of any remaining fluid (and presumably a certain amount of air). A valve was then opened to allow the resulting vacuum to draw in the hydraulastic fluid from the tank on the pump unit. It was then pressurised with the pump.
The master cylinder gadget will work fine, but you won't be able to initiate the vacuum so there may well be some air trapped in the system which will produce a softer ride.
The gas is separate at the top of the displacer and being compressible acts as the 'spring'. The Metro race cars often had a schrader tapped into the gas reservoir to allow for adjustment of the gas pressure (usually nitrogen).
The units do really need to be vacuumed if you are going to do it properly, I have an old Churchill pump that does both and cost me £30.
Motor factors often keep proper hydrolastic fluid in the back so you have to ask for it, it's cheaper to buy than antifreeze
This webpage may be of some help. Also this thread on Ausmini.com might give you some ideas. Incidentally, although I believe it's a myth, apparently the fluid in minis was water mixed with alcohol as an antifreeze but the geezers on the line kept drinking it. Nice story...