Given the reasonably low cost of a bearing, I'd plan on replacing it regardless if it separates or not.
I'm not sure about that tool you posted. I think more of a bridge is needed, but have no first or second hand experience with it, so I'll just provide a couple of references to a couple of other things that might help figure out if that one will work or not.
Here's the tool that Chevy mechanics supposedly use to work on Aveo bearings:
Kent Moore Tool J 37105 Front Hub Bearing Puller Remover Tool Set | eBay
And here's the DIY tool from whitefish, if you have not already seen it:
http://www.aveoforum.com/forum/f94/h...-bridge-14248/