I would double the horizontal bars, they should be available from the manufacturer in BC. The horizontal bars are loaded in bending on scissors steps, the vertical just in tension if everything is set up right. If you have trouble getting the extra bars, I might just have enough spare ones from the
stair project on my Bigfoot.
If you drill to 5/16, you would like to find bolts that are not threaded their full length. An unthreaded shank will wear better in the holes than threads contacting the aluminum. McMaster Carr would have bushiings if you wanted to go that way, but it would be a tedious job. If the holes are enlarged, they will also be oval. Drilling them out accurately should really be done with some fixturing on a mill or the locations will be all over the place. You may also want to check to see if there is clearance under the step extrusion for a 5/16 bolt head. It's pretty tight with a 1/4-20. By the time you are done you might wish you had just bough some new ones!