Wow - that would be quite a mod, but on the face of it I'd say it was possible (if difficult).
The first obstacle you'd need to get around would be cutting down the Zytel liners, which are shaped to taper and curve with the contours of the handles. Unlike the PST for example, the handles on the Blast are not parallel for plier end - to tool end. The way that the handle is intended to "fit into" the Zytel might be hard to replicate and cause some problems (hopefully the pic will clarify):

I suppose you could remove a 3/4" cross section from the liner, just below the plier pivot hole and then use adhesive to secure against your cut down steel handle to join it back together again. That way you can preserve the lip at the top of the liner into which the handle can fit tightly. Matching the cut down liner to the cut down handle is definitely going to be tricky though
Then, you have the big challenge. The pliers only have 4-5mm clearance when closing the tool, before they will snag on the Phillips driver's nail nick. You may need to do some serious modification / grinding of the tools retained in the handles to ensure that you can still close the tool up, after the pliers are moved 3/4" closer to them.
It sounds like a cool mode though, I hope you succeed
