Not to bust your bubble mojojo4, I completely disagree with your comment "...they will look like a weak attempt to look factory" ...as neither option will look factory. Also, I have concerns about using "channel locks to prevent it from spinning" if anything the button head options sounds like the more viable way to tighten them down properly to secure the frame.
Your bolts do look interesting, but unless you can cut a slot, or a X on the threaded end, and be able to really "HOLD" the bolt in place with a make shift screw driver while you tighten the nut, you will never be able to tighten the nut enough.
Just to say, I am looking at options myself, and have no experience with re-riveting a frame, but I see potential flaws in your design.