Turnbull does support emissions trading in general, yes, and there’s other Liberals who do as well - but not that many in the Senate and those that are there would still rather block Rudd than pass an emissions trading bill at the moment.
A compromise bill may pass at some point, if for no other reason, than to avoid giving Rudd a double dissolution trigger - but it’ll be watered down in comparison to current proposals.
Any such legislation, in whatever form, would still set up a completely new bureaucratic nightmare and empire building opportunity. And however low they start, it would ratchet up to stunt business and increase consumer costs, not to mention the horrendous compliance issues. So, no, your optimism does not relieve me in the least.