As squashfs can reside on block devices, which have no relation in size to the filesystem size, apart from being at least as big, I would estimate that appending random data to a squashfs is unlikely to cause problems.
A quick browse through the kernel
super.c
driver function squashfs_fill_super() which seems to mount a squashfs,
does not show it being concerned with data beyond the end of the
bytes_used size given in the
superblock,
which is at the start of the filesystem, and no error messages seem
relevant either.
Note, however, that a squashfs file is usually padded at the end to be a
multiple of 4Kibytes, so that it can be used with loopback block devices.
Make sure whatever you add is also a multiple of 4096 bytes.