The club pro at my club just got a new sponsor (an oz company that have counterbalances on some bat models ). I haven't seen any of his bats yet , but another teammate has , and he said the counterbalance wasn't wood/cane etc , and was added on . Perhaps that particular model has standard handles but club pro wanted a counterbalance handle and a solution was found , not sure .
Anyway , the method used was to cut small cross sections of a chevron bat grip ( either 10 or 20 mm , but could be whatever you want ) . You then stretch the little grip 'rubber bands' over onto the handle tip, then put the actual grip back over the top of the grip segments . The bats seen apparently had four added .
I tried doing this myself , using 4 'grip rubber bands' , and i must admit that I'm rather chuffed with the result . I've always thought counterbalance handles are good / work but ive never bought a bat with one because i like to cut off the top inch of my handles to make them super-short handles .
I think I'm going to play around with this some more and may even end up doing this for all my bats . The four grip segments I used weighed .25oz . To me the bat now picks up at least .5oz lighter .