MTGNexus

Is there a point when activating your Chaos Wand that allows you to activate your Transmogrifying Wand?

I am not sure how these are supposed to be interacting but there doesn't seem to be any interaction. You cannot activate the Transmogrifying Wand until the ability from Chaos Wand is done resolving *and* the spell found has resolved since TW can only be activated as a Sorcery which means the stack needs to be empty and it needs to be your Main Phase.

The scenario I had in mind was activating Chaos Wand during an opponent's turn when I normally couldn't cast a sorcery. Chaos Wand allows me to cast a sorcery so I thought maybe I could activate Transmogrifying Wand at some point

Then no - "as a sorcery" is shorthand for "activate only during your main phase while the stack is empty." See CR 602.5d.