There should be no problems as far as I can see. I know of a few makers that are actually using micarta as guard on full tang knives instead of metal, it keeps the weight down and is quite durable..
Question? are you gonna use paper based or linen or what, and what kind of finsh are you going to use? Because i know that some of the reds and marroons have a very touchy dye in them so if you plan to buff the handles, you may get a red tint on the whole thing..
Good idea, go for it!!
Alan Folts..