Hi, OP back in case anyone is interested in a very quick layover in Hong Kong. I saw everything I wanted to see, and made it back to the airport with plenty of time to spare. This is what I ended up doing:
1 - I took the Airport Express to Central. TIP: I bought the AE tickets from the machine, and did not wait in line at the ticket office. There were about 40 people in line, so this was a huge timesaver.
2 - I walked to Star ferry from Central, about 10 minutes, and took the ferry to TST Promenade
3 - I walked around TST for a bit and then walked to Tsim Sha Tsui MTR station (NOT East Station). I took the Tsuen Wan line to Mongkok Station, and Ladies Market was right there
4 - I spent at least an hour at Ladies, and then took the Tsuen Wan Line from Mongkok Station to Lai King. I transferred to the Tung Chung Line for 1 stop to Tsing Yi and then transferred to the Airport Express.