I wouldn’t mix the two. The fume extraction for the laser ideally should have no combustible materials (although I will admit I’m using some amazing 6” flexible hose that came with some CNC Routers to connect up to my laser).
But on the business side of the dust extractor, it’s not just the saw dust I was concerned with as being a slow smoldering surprise of a mid night shop fire. I am also picturing the air filter, bag, etc as being flammable.
All it takes is one hot spark or ember to sucked up. Maybe it will work out. It does seem like a lot of work to have to disconnect and clean out the dust collector to switch over.
Have a look for a used Spin Master bounce house blower. These are actually very heavy duty industrial blowers with top notch motors.
I have one I picked up for $30 and cleaned up. It’s a spare extractor for me (if mine ever goes out) but I’ve used it for other things for now.