I think you'll have a few major problems: 16mm spools won't fit and transport mechanism will need to be adjusted for larger frame (not even thinking how that will work with perforation), I'm not even sure it's possible. Also the lens may not cover the entire frame.. What are you trying to accomplish? Not for that much more you can maybe pick up a Krasnogorsk-1 or 3..
Idea is to use recentered 16mm lens, Double8 film stock and camera that is much smaller than 16mm Krasnogorsk or Canon Scoopic. For example Beaulieu MAR8 is very nice but use reflex shutter. How about Neva/Lada?
Have you ever seen Double8 film perforator? Anyone tried make in Russia?
I've never seen any of these cameras modified in the 10 years I've been buying/collecting... I was purely talking conceptually..even though the cassettes are same width in Lada, you still may have frame coverage issues because of flange distances (backfocus) as when I compared to K-3, the film plate in it is very close to the back of the lens where in Lada there's a pipe-like assembly (3 times the backfocus distance)... is there a dead strip in the middle of double8 film? i.e. can you use the entire horizontal space on double8 if you widen the frame gate? I think if you want a wide screen frame (half vertical frame) it may be possible and you won't have to adjust the shutter and transport for that if you shoot on double8.. but if you go full 16mm frame (i.e. making the frame bigger vertically as well as horizontally) I think you'll run into serious mechanical issues...
It was already done for Bolex H8Rex - see UltraPan8. Problem that I usually have is dark viewfinder when lens is stopped down. Can be omitted with reflex lens. I've never used Krasnogorsk or Aaton/Arri. From other side with modern film like Vision 50D reg8mm is ok - I'm sure Kodak will make Double8 batch because they now trying sell film with Logmar8 camera.