Howdy, TIZWIN !
Nah, yer not nuts.
However, I'd strongly advise against shooting any caliber more powerful than what it's chambered for. It might actually fit and there's a chance that it would do just fine IF you only used BP, but if anything happened at a match and someone got hurt, you'd be wide open for a lawsuit. And perhaps even worse, you'd be feelin' pretty bad about causing harm to one of your new cowboy shooter friends.
50 gr of "loose powder" pushing a 140gr (or thereabouts) roundball or even one of the 200gr (or so) conicals won't develop the kind of pressures you're talkin' about in a 454 Casull case. It has to do with compression and the cavity being filled with powder.
Nothing says you can't make a dummy bullet, however, out of a 454 C case and a bullet to satisfy your curiosity. Just fill the case with sand, grits, used cleaning media, or something besides powder. Personally, I doubt you'd be able to chamber it, but that's just my opinion.