I tapped mine for 1/4" fine threads (28) you don't have to drill the stand, the 1/4" bolt will slip right through. I started the tap through the stand to get it started straight, then removed the stand and finished the job. With a bottom tap you may even be able to run the new threads all the way down so you could use longer bolts. Mine had been stripped for who knows how long, no apparent harm.
Someone here suggested this once and it worked well for me. The root of the 1/4" thread measured bigger than the OD of the m5 bolt so I believe all the old thread was removed by the tap. Clean the holes very well and blow them dry so there is no oil or cleaner left in the holes. My PO had mixed the shorter cam tower bolts with the longer ones, I think that is why mine stripped.