Hal,
If moisture and oil caused the wood fibers to swell, would one of those kitchen vacuum preserving machines be worth a try...
Place the wood grip in the vacuum bag or container with some paper towels wrapped aroudn the grip and then apply vacuum to try to "dry" out the wood...???...paper towels serving to soak up any moisture/oil that would come out of the wood...
Might be worth a try on a single grip you do not care about first...
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