My favorite and most effective mod is to twist some thin string and use some parafifn wax on the string … but that’s not really a modification to the yoyo.
or you could
Take apart… put wood axle and take off one of the starburst add weight rings. I tried and it didn’t play well but i was hasty in my mod and rushed it and i started with one where the gap was set crooked and it had vibe when it was stock. I rushed my homemade weight rings too and they didn’t fit perfect… My point is… it is easy to mess up.
It wouldn’t be terribly hard to put a bearing in one… but cutting a recess for the bearing spacers and doing it right is where it starts to get complicated. but i’d buy a 6.50 butterfly XT and call it a day instead of putting a bearing. Wonder if the OG butterfly caps would fit?
To answer the question, yes you can mod a Butterfly. How do you mod it? Depends on what you want to so basically whatever you want to. He is not asking how he is asking “Is there a way”."
The point im trying to make is… in theory it’s easy. But actually doing it to where you have a good player and it’s done right is difficult. this is why we asked if you were doing it for fun or if you wanted to end up with a useable yoyo.
Why do you need a threaded insert for a wood axle? You could just as easily substituet a wood axle for the metal one, which is what people were doing a few years back.