Hello there, @pcarr2 ...
I'm sorry to see that your question has been sitting out here for several months without a response. I think the best thing to do would be to just try your scenario with your colleagues...maybe using a separate course shell that only you and your instructors have access to. That way, you can do as much testing as you want in a separate course without worry. Since you are using Google content in your course that's been shared to Commons, I'm not sure if there will be any issues for you and your colleagues as far as the permissions in the Google documents are concerned. That might be some things you'll just have to play around with to see if it will work or not.
Or, you may have already found a solution to this...and if so, it would be great to hear back from you.
I hope this will be of some help to you. Please let Community members know if you have any other questions about this...thanks!