You can reinforce it like shown in another article (I think you responded in that one, too):
http://www.hobiecat.com/community/viewtopic.php?t=4056
However, I wouldn't go turning them around because you would have even more holes in the sidebars. I have a bunch of them for sale if you need one.
I rarely have seen one that does not have corrosion at the chainplate. Hobie 16 siderails are the same extrusion as the 14s, but are about a foot longer. I rebuilt my 14 siderail by cutting a 16 down and riveting the chainplates on. That way, I had a fresh bar with no corrosion. Don't forget to put some tape between the chainplate and sidebar to prevent the interaction of the stainless and aluminum.