The name token and the race token would be separate even if you bought them together, so you could use just one of them if you wanted to, and save the other token for later.
Yes, I believe the race change token would allow you change your appearance without changing your race, but of course it will give you the option to change the race too, obviously.

If you do decide to change your race, though, please remember that the race change token will only work with the other two races in your alliance, though, unless you unlock being able to truly change to any race by buying the Adventurer Pack (I believe it's the Adventurer Pack ... please double-check this before you buy it, in case I'm wrong). ZOS doesn't feel the need to tell people that their "race change" token only applies to two other races unless you ALSO buy an additional pack.