My thinking is drilling a small hole near the 'V' of the fixed jaw, then the big hole, then file out the rest. I have been doing a lot of trigonometry to figure out how far off center the big hole has to be so that a tap shank in the middle of the wrenches range will be on center (as only one jaw moves a larger or smaller shank will be slightly off center - but I want to try and minimize that by making a tap in the middle of the range exactly on center). So my tap wrenches now have a spreadsheet to calculate the dimensions for each size. Once I get the taps finished and refined I will tidied it up and post it with the drawings.
While I'm pretty sure they will work, perfecting them is a balance between strength, weight and leverage.
My main concern at present it they will be too heavy and you will loose the 'feel' of the tap which could lead to breaking smaller taps. Will wait till I have milled flat the middle section which will cut out a lot of weight and see.