2cm=about 1in short but you only need about 1/2 in about 1cm for a peg to hold onto? This doesn't seem to be much of a problem... Don't get me wrong it's nice to have more to work with but, it shouldn't do you any harm.
Trackfodder, that is on the clutch. When you strip all that fun stuff off you are left with a drive shaft that the clutch attached to that is of varying lengths depending on the brand and if there was a clutch. Most new cheapo WW don't en have a clutch which I think will do 2 things: force us WW builders to look for older and older WW to build with and 2 drive me insane. Most WW now are 25 cc unless you get a professional model. While I'm glad to see the WW designs get better and better and more fuel efficient I realize that the 25cc and less are not as usefule for bikes, though I'm working on a needlessly complex modification to see if I can get it to work.