Mornin', Jack.
The sleeve is actually threaded tight onto the stud, not just glued to it. The threads are fine, and run the entire length of the stud and sleeve, and I used a channel locks to clamp it down to the plate, then polished out the galling.
I know what you mean about side loads on a bolt and a plate like this. Two years ago, the hardened bolts that attach the tensioner on the front of my MGB for the supercharger gave way as you described - all 3 of them. They used spacers and a plate, and were under side loads much heavier than this, and yes, they were 1/4 28, but they were also 3 inches long and only supported by the threads in the plate. The side load on this is not nearly as heavy or variable as what the MGB had going on, and it went 20,000 miles before it let go.
So when I say "gut level", that's the experience that I'm gauging it off of.