Hi Doug -
Not really my area of concern (or expertise, frankly) but I would think that your ladder is attached to your transom in only two places and the attachment and philosophy of the folding ladder is that the forces on the attachment hardware are designed for upward or downward force. Pulling the dinghy is going to create lots of "pull the suckers right out of the transom" force.
(Yes, I'm quite proud of that scientific explanation !!)
I think that, in less than perfect motoring or sailing conditions, something will break.
Ernie A. in Toronto (Nice to meet up with you last summer at RCYC, BTW.)