I'm glad they have cosmetic items in the store (haircuts, hair colour, etc). I don't even think their pricetag is too high.
The problem is I am not going to spend 200tp for a hair style that may or may not look good on my character. I am also not going to spend the 10tp (or w/e it is) to reverse this hairstyle if the one I bought wasn't what I had hoped for. I'm sure many people feel the same way.
Turbine, you would probably sell a heck of a lot more of these products (and therefore be encouraged to make more) if there was an option to try before you buy. You know, sort of like the guest passes for quest.
I would suggest that you put a 30 second timed version of each hair style and colour in the store for 1TP. The character in game gets the new look, and 30 seconds later reverts back to their original self. If 30 seconds isn't enough, then 1min or so should be plenty to make a decision one way or the other. I would bet you double the sales of your hair dyes and hair styles by implimenting this, not to mention a bunch of TP from the try out versions.
In addition, there should be cosmetic packs in the store that permanently add a pack of hair styles/colours to your character creation/TR screen.