Others may jump in with better advice or a good reason to be concerned however; when I first put on my clip-ons, I did not drill a hole for the locator and in fact I ground the pin flush.
I now have another non stock assembly for my track settup and there is no locator pin involved. Just make sure the assembly is tight and doesn't easily rotate when you twist the grip!
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The Smart Money: #1 - ATGATT, #2 - Training (machine skills and survival skills), #3 - The bike; whatever floats yer boat with the money you have left over
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