It's quite possible. I do much the same with momentary and larger AV switches for mine. It takes a bit of work with a dremil or similar tool, but it can be done. The aluminum on the hilts isn't as hard as steel, so a drill bit can cut through it, so can a sanding barrel as well as several other similar tools. A little elbow grease and some work and it should fit.
I was wanting to see if possible what it would take to modify a standard switch hole in the main body to fit a guarded switch. I'm trying not to have to buy a new main body with a guarded switch hole so i could put that money to other parts. I didn't know if it was possible and what it would take to do it.