Am I reading this right?

"When you are not stressed, you may treat your [Talon Roll Left] and [Talon Roll Right] maneuvers as white maneuvers."

Atsy's ability does not turn maneuvers white, but it lets you treat them as if they were white.

"After you execute a red maneuver, you may acquire a target lock."

Atsy's T-roll is a red maneuver, so it triggers Targetting astro, but it may be treated as a white maneuver when the check stress step rolls around.

Am I reading too much into this?

Is there other language used but "treat" anywhere? This has always meant the maneuver is now the color stated.

Actually, I took "treat" to mean, you perform the RED manuever but do not recieve any stress from it (as if it were a WHITE manuever). It would still trigger "Targeting Astromech" ability.

I'd assume this doesn't work, by default. Treating them as white includes not triggering stuff that triggers off non-white manoeuvres. Do your white manoeuvres trigger Targeting Astromech? No? Then neither do Asty's t-rolls as long as he's not stressed.

"Treat as a red maneuver" means turn the maneuver red in all respects. If it just meant change the stress effect then Stay On Target would let you execute red maneuvers while stressed.

When you treat it as a white maneuver, it's no longer red, and as such it's not going to trigger the Targeting Astromech.

Ello Asty and the Targeting Astromech are fairly incompatible as the only maneuver that's going to work is the K-turn.

It uses the word may, so you have both options.

If you treat the Troll as a white maneuver, you don't gain a stress + you don't get a target lock.

If you treat the Troll as a red maneuver, you gain the stress and you acquire a target lock.