Despite that the tool that Tormach supplied for alignment of the turret forced me to use it face up, tools will generally be mounted with the insert facing down. What is also strange and has me confused is that the coolant nozzles are on the top side of the tool holder and not the bottom making it impossible to have it spray on the face of the insert. Nevertheless, the conversational programs do not let you reverse the spindle rotation.
I have the Aloris style quick change tool holder in combination with my turret. I had the same CXA toolholders for my manual lathe so I went that route to start out. Eventually I will set up gang tooling as another option. I hope to just change insert styles (and keep the same toolholder mounted to the turret) to switch between ferrous and non-ferrous in most cases.