Hey, I've been seriously considering trying this as well....and you answered arose11's question near perfectly(for me) the only issue I have is if there is any risk of causing damage to the neck? I would assume not because the light gauge wouldn't be straining the neck much at all...but I don't know a lot about necks.
Michael, let me say, I'm starting to get into the world of altered tunings and I am having sooooooo much fun, and I owe it all to you, because you gave me the ideas.
I am seriously considering getting a modulus or zon with a graphite neck, cause I want to explore altered tunings to the fullest extent without damaging my bass.
My two favorites right now are
D#-A-D-G#
E-A-E-B
I have already broken an A and a G string trying to tune too high..

but its all good, I'm learning.
I was thinking that I want to make myself a piccolo bass, a tenor bass and a contra bass

tuning E-A-D-G an octave lower

but we'll see.