Aside: if you're interested in 4D visualization using 4D -> 3D projections, you may like
my website.
No, the instability of 4D atoms has nothing to do with the instability of 4D orbits. At least, that's not the reason we arrived at that conclusion. I wasn't the one who derived the equations, so I couldn't explain it to you beyond what I've already said. Somebody on this forum derived this result many years ago; but I can't seem to find that discussion anymore. Maybe I'm just not entering the right keywords. But I
did find an interesting post by yours truly, that references an actual research paper titled "Is there a stable hydrogen atom in higher dimensions?". The original link seems to be defunct now, but Google turned up
this link to the article. In short, the idea is that if the potential of a point charge is fixed at 1/r, then a stable hydrogen exists regardless of dimension.
The problem with that is, as far as I'm aware, the potential of a point charge in n dimensions depends on the number of dimensions, because we're assuming that the electromagnetic force, mediated by virtual photons, would diminish according to an inverse (n-1) power law. I.e., Coulomb's law in n dimensions should follow an inverse (n-1) power law. Since Coulomb's law is what determines the potential of a point charge, I'd expect that the 1/r requirement would not be met in higher dimensions,
unless we modify electromagnetism laws to somehow, by fiat, result in a 1/r potential of a point charge. Then we'd get stable 4D hydrogen atoms, and, one would expect, other atoms as well.
But this isn't much different from declaring by fiat that gravity in 4D still obeys a 1/r^2 law, so if we're going to go that route, we might as well just declare, by fiat, that all the laws of physics in 3D will carry over unchanged to 4D except for the number of dimensions, and leave it at that. Which would give us an analogous universe to the 3D universe we know, except that you have an extra dimension of space to play around with. But it remains to be seen whether this will introduce any subtle contradictions to the whole edifice -- one would have trouble explaining, for example, why gravity, or any force mediated by virtual force carriers, would follow an inverse square law when the density of force carriers obviously diminishes in proportion with the surface area of the (n-1)-sphere as the radius increases. Where would the "extra" force carriers come from, that the force would diminish in proportion to 1/r^2 when in 4D, for example, the surface area of the 3-sphere increases in proportion to r^3? Unless, of course, you replace that part of the theory with a different model of how forces work. But that may lead to the whole edifice collapsing in a heap of contradiction, and now we find ourselves back at square one, having to reinvent physics from first principles.

The background of that paper seems to be related to string theory, which postulates many extra dimensions (up to 11 in the most popular model, from what I hear). Most of those extra dimensions are microscopic / curled up, so on that basis one could justify the 1/r potential for a point charge, since the dissipation of the electromagnetic force into the extra dimensions would be confined to the size of the curled up dimension, so at a large-enough scale it could still have a 1/r potential. In this forum, however, we're postulating extra
macroscopic, unconfined dimensions, so it's gonna be a lot harder to justify why Coulomb's law should remain 1/r^2 so that we get stable atoms, and why gravity should remain 1/r^2 so that we get stable orbits.