Rid of black hair dye, but now yellow and orange!

Gong from that dark to a light blonde often requires doing a second stage or lightening. If you still have orange, you need to go further before you tone, IMHO. I would also NEVER bleach with 40 volume. I almost always (99% of the time) bleach with 20 volume. On rare occasion, I will use 30 volume, but almost always for off the scalp highlighting. I sometimes even go with 10 volume, but that probably would not have been adequate for you, at least not for the initial bleaching of the previously colored areas. 40 volume though is really harsh, especially for multiple processes. I would never advise that. Never, ever.

I would either do a bleach cap for about ten minutes to try to lift to pale yellow (directions available online) or would bleach again with 10 or 20 volume with some added Argon oil (or something similar) to the bleach to protect your hair some (just to the orange areas). If you use something like the Wella bleach oil, it is easier to avoid overlapping. You can also put some conditioner on your roots to avoid additional bleaching there.

As far as toners, you are totally on the right track. I would likely use a no-lift/deposit only developer to see what you get with the toner before doing anything harsher (of course, after you have already bleached to pale yellow, not while still orange). Going back to the bleaching, you could also use bleach with an enzyme developer like Trionics. I have seen tons of people raving about that recently as a way to do minimal damage full head lightening. I haven't tried it personally myself, but have some on order.

Whatever you decide, good luck to you!