Since QRL is currently an ETH token and in the Testnet phase, does this mean that any currently held QRL coins will be void once the actual blockchain breaks off, or will this work more like a hardfork?
No. Once the mainnet will be released all the ETH token will be converted to the actual QRL coin. Anyone who is holding QRL's ETH token, will not lose anything. Their token will be considered as valid QRL coin.