I am trying to decide on a worm rod--I was wondering what a  4/0  Gammy EWG + 6"-7" inch worm or lizard + worm rattle or glass bead would weigh in terms of ounces?

1/4 to 1/2 ounce. It is really going to depend on the worm, and what the rattle or bead would weigh. Do you plan on using some kind of sinker? From there its going to depend on what you want for a presentation, IE punching a worm through grass or keeping a fluke a foot or so deep.

you're not going to exceed an ounce unless you put a pretty heavy weight on it.  even then with a 3/4 oz weight, a typical worm with a hook and glass bead(both of which don't weigh anything significant) will probably only get CLOSE to an ounce...a weight most any worming rod can handle with no problems.