It's just the bottom grip, so I won't need to mess with the guides. Unfortunately it's too damaged for the shrink wrap, I would have to build up about half the grip on one side.
I like the carbon grips as I have one Okuma rod with them and it's nice not having cork soak up fish slime and blood, they just wipe off easily. From what I've seen, the carbon grips need to be hollowed out to match the rod blank diameter which probably requires more equipment and skill than I have.
Maybe I'll just re-cork it and not use it in the downriggers and then buy a new Okuma for the downriggers to match the one I already have.
Thanks for the help, I'm still researching other options as suggested.