The caulking on our hood also began to fail on our E30+, but one of the screws holding the hood in place would not budge. So rather than breaking/cracking the hood or causing similar damage, I was able to dig the old caulking out with a pocket knife, cleaned the area with acetone, and resealed it with white Sikaflex 291. That has worked well, and saved having to remove the traveller, risk damage through removal and saved time as well. It might work for you.
I just had the sea hood off of our boat for several months, for the repaint. Not sure about the perimeter of that piece on the EY models, but that flange around the edge of ours is solid glass layup. The whole center portion is balsa cored.
Since our traveler is mounted on a bridge deck, there is no penetration of the coring on the 'hood'.
If yours has traveler fastenings in it those holes are under stress. Quite a lot.
Better to just remove the sea hood, over-drill, epoxy in, and re-drill all of them.
Plan B: upgrade to something like a Garhauer traveler with the supports on either side of the hatch. Install those SS sports with some G10 backing plates beneath. Patch and gel coat the former holes in the sea hood.
Having a 'flat' traveler with no down-arc maintains a slightly better shape to the main as you let out the car, too.