Your drawing with the telescoping tubes is a fairly well tried solution used by various designers/builders, so it should be possible to make it work. I would suggest stock aluminium tubes with fairly thin walled plastic sleeves (e.g. delrin) turned and mechanically fastened inside the outer ends of the central tubes and outside the inner ends of the outer tubes. We did something similar for a retractable bowsprit and it worked ok. I wonder how you would make the nice looking curved ends to the outer tubes - do you have a supply of suitably thin walled large diameter ally pipe bends?
You have now gone back to pivoting beams with vertical pivot axis. I guess your arrangement with the 'waterstays' could work in principle provided that you can provide a suitably strong mounting for the inner ends of the waterstays - your drawings dont seem to be at all clear about how that could be done. Assuming that the waterstays are intended to carry both tension and compression, the inner mounting needs to carry loads in both directions athwartships and both directions fore and aft. A point to note is that the worst situation may well be when the beams are slightly folded in. As the beams approach the fully folded position the pivot points at the inner ends do not need to carry large loads since vertical loads on the floats can then be reacted against bending moments in the outer parts of the swinging beams. I agree with SamSam that it could be well worth while to provide strong 'end stops' for the swinging beams so that the pivots for these beams do not need to carry the compression load in the beams while the boat is sailing.
I find your Solidworks drawings look a bit messy - I wonder why you have black lines all over your curved surfaces. There is a document properties option not to display lines where surfaces meet with common tangent planes, perhaps it would help to set this option?
If you have the version of Solidworks with Cosmos built in you should be able to model all this with FEA and check for yourself that all the parts are strong enough for the intended usage.
Looked at your webpage - looks like you are making good progress on the hulls etc. I absolutely disagree that the place to draw a part is on the actual part during the course of construction, but we all have different ways of working!