re: drill frame
I wouldn't blame you. Drilling a hole through an aluminum lightweight frame and mounting a vibrating engine that runs 1000's of RPMs probably will shorten its fatigue limits.
On that thought, I highly recommend using a STEEL handlebar, esp if you need to drill the pilot hole for the throttle grip. I also would use Gorilla Glue on one half of the clamp if you do not use the locating pin. If your grip comes it would be bad.
I don't know if I mentioned earlier, but you can cut down the throttle twist grip to 1 or 2 fingers size, and then mount it without the pin, and use a conventional bike grip and superglue or sticky tape. This should be as strong a method as conventional bike grips, and you could turn it just like a gripshift. Safety Wire also works on really cheap or old grips, but don't cut through them by twisting too much, and leave enough twisted end that you can poke it down away from your hands or you could jab your hands.
Steel riser bars can be had for standard threadless 1 1/8 stems at nashbar.com for $15.