Two buddies started running this type of bead lock last year, one bought the rims already done and the other copied the idea. On the few runs they have gone on it seems to work, what damage is/isn't taking place to inner side of the is unknown. As mentioned the idea isn't to screw into the bead, but run along the back edge, likely(didn't see either set w/o tires on it) either along the safety bead, or just to the inside.
If I was to do this(current plans are to get stauns) I would use some grade 8 bolts, with the thread(sections above the rim) ground smooth as well as glue for the bead. This should help to keep the bead from slipping and reducing the amount of where on the inner side of the bead when aired down.
I think one would be better of just welding a bigger safety bead, it certainly wouldn't take as long and wouldn't have the possible side effects. It might not hold as well, but then again a blown bead isn't that big of an issue on the trail, it only takes a few minutes to dig out the snow and reseat it.
