I would go with this with the exception of not necessarily fastening to the floor it sits on. (Providing an alternate means of keeping the bases of the various walls from moving relative to each other.)
Yes, as compression members get long, they tend to buckle. Provide adequate bracing for your vertical supports. I'm not sure that a 2x4 stud wall is adequate to prevent out of plane buckling at 10' high - 2x6 studs might be required. (I'd block a stud wall to provide in plane bracing to the studs at least every 4' vertically - and sheath an adequate portion of the wall for shear strength.) Again, this should be just like a bearing wall of a house with 10' ceilings.With platforms that high, I've heard adding a toggle around the legs (in addition to the aforementioned crossbracing) can add stability.
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