The British Film Institute calls Toni a 'Mild thriller' (http://ftvdb.bfi.org.uk/sift/title/372067), and a contemporary Australian review suggests it was intended to be as much a comedy as a thriller:
'Packed with laughs and thrills, the cinema art comedy, "Toni," will be shown at the New Pavilion Theatre on Monday next. It is the tale of an active and wealthy young man who poses as a famous detective, and is brought into many close situations owing to the machinations of a gang of international crooks.'
Source:
'"Toni." An English Comedy', Advertiser [Adelaide], 19 April 1929, p.22.