i would advise against dropping the forks through the tripple tree, and straping, as this method decrecess rake (if you dont drop the rear end) just what you dont need for high speed stability.
i have internally shortened my zx12 forks by 3", and i really dont see that the hayabusa forks would be that different that you couldn`t shorten them also, although 5"
it would be pretty hard to explain how to do it in words, my advice would be, pull the fork leg apart and think about it, if you have ever shortened `ole school forks, it`s sort of the same principle, but in reverse, sorry if this sounds confusing, but...
along with the spacers you will have to turn up, you will also have to shorten the internal springs by the required amount...
best of luck, it "can" be done