The Sherpaframes often crack at the steeringhead with original engine in trials riding. It's flexy and weak. I'd only imagine what it will be like with a honda 4 stroker on a mx track.
I also think it's regular steel.
If you're going to put in all the work of building a special i think you'd be better off getting a Pursang frame to start with.
For mx use that is, if you're building a trialsbike you're on the right way.
Whatever you do, put up pics....