Maui,
Thanks for the pics. Man, I assumed they were cracking at a weld. If they're breaking in the cast piece, some engineer at Suzuki is in for a shiTstorm. Having seen the piece, I think your idea would work. If there's radial clearance, you could even machine the new piece to have a stub on it the same OD as the tube (and a smaller stub to pilot in tubing ID) and then make a collar to slide over both pieces which you could then weld at each end. Or you could cut a slot the length of the collar and weld the full length of the collar in addition to the ends. Oh well, you're probably a better TIG welder than me and that skill will ultimately dictate how well any redesign works in aluminum.
Bottom line is this should be on Suzuki's list of things to recall and make straight, so that we don't have to re-engineer our bikes just to keep our wifes/girlfriends from falling off due to chassis collapse!