This does make sense but I think you have to consider what the adulterant is, assuming there is one. I've not tested the purity of my powder source because so far I haven't had the means to (that will change soon I hope) but lets assume that it's not 100% pure. When I mix the gear into its solvent (oil, ethyl oleate, etc) the adulterant should not dissolve, it should sink to the bottom, unless of course it too is soluble in the solvent I'm using. SO, when you go to do your crystallization, you're going to be catching the adulterant along with the actual hormone wouldn't you? Also, how is distilled water going to super saturate the solution?
I guess you could try mixing the hormone in several different solvents in an effort to find one that the adulterant is not soluble in but I think you're going to have really mixed results that and it would probably be a lot more difficult and expensive than just paying a lab to have mass spec done.
Finally I guess you could get an IDEA from the quality of the crystals that grow, but then assumes you have done several recrystalizations and dry in a completely dry atmosphere. If you still get powder or tiny crystals at that point then you know its not pure, but I mean realistically I'm not expecting it to be pure and what I want to know is HOW unpure it is.