I've modified all four of the controllers I have (three on bikes, and one spare) - if only to add a power switch and bring out the status LEDs from inside (and add heat sink compound to three out of four of them - they didn't have ANY).
The interesting thing about the board design is that they're doing something really cheesy to get the 5V supply for the microcontroller from the incoming battery voltage. The supply is based on standard 78xx linear regulators, but because a 7805 can't take 36 (or 48) volts directly, they actually CASCADE multiple 78xx parts. On the 36V version, they put a 7815 in front of the 7805. And, guess what? There is a place on the board for ANOTHER 78xx regulator which would be in front of the 7815. My guess is a 7824 - which would allow you to supply 48V without popping anything. There is a single power resistor in series with this arrangement, and there is a space on the board for a second one that ties directly into how the space for the 7824 is laid out.
The transistors which drive the motor are NEC K3435B's (which is generically known as a 2SK3435). These parts can handle 60V max. My guess is that the only difference between a 24V, 36V, or 48V controller is how they've populated the section of the board that provides the TTL power (which regulators/resistors are present) and the value of the resistor that provides the low voltage cut-off.
If anyone's "fried" a controller by "overvolting" it - I'll wager that the only thing popped is the 7824.
I've got my spare controller open on my bench right now. If anyone would like to see a picture of what I'm talking about, I'd be happy to post one.