Norm - Are you saying that's just one long bolt with a tubular sheath? If so that's really risking things. If it's tubes with welded in bungs then I stand down.
An outer sheath won't make any difference unless it is all bonded.
The problem is shear effect really. Rob's idea of a welded brace Is not bad - but I would do so at BOTH ends. Some 6mm(1/4") plate will be stiff. And at the lower end will give far more support to the top yoke.
I wash picturing tubes, coped and welded between the risers just under the handle bar. Would look good because it’ll vanish and provide a very strong brace.