Sorry for the thread necromancy of this ancient post, but I thought I'd add in some info and confirmations. Yes, I've poured and cast my own stem materials before, and have a number of sheets still of custom stem material such as the one shown in the above pics. Jim Cooke does this a lot more than I do, and Paul Tatum did it till he left pipemaking. We're the only three that I *know* of, but there may be more.
It's a horrendously expensive process - Hobbyist makers ask me about it all the time and my reply is always, "Expect to wad up and burn a fistfull of hundreds before you get reliable results you can use, and even then it's fraught with issues and unexpected complications." (PS - If you're buying from pen casting guys, be sure and confirm that the materials are "food safe" - The stuff I use is used for casting artificial teeth sometimes)
When it works, you get a beautiful one-of-a-kind pipe stem. Which costs the maker about $40-50 in time and materials over and above the cost of a typical handcut ebonite stem. Ergo, if you sell them at the same price as a handcut German rubber stemmed pipe, you're making less money on every pipe.
Regarding the comfort issue, the material needs to be left thicker. That's why some folks don't find them as comfortable. It cats to a more brittle state than rubber (obviously), so the stems are more vulnerable to bite breakage if somebody chomps down on one of similar thickness to a vulcanite stem. You can make them thinner by making the bit slot lower from top to bottom, and make up for it by making it a little wider and deeper in the V cut, but there's only so far you can go before the slot is too narrow to easily accept a cleaner. If the stems are left slightly thicker and the V slot is tweaked to accommodate this, they're as durable as ebonite. They just don't have ebonite's natural advantage of being able to squish and flex with a bite - but on the same token, they also don't have ebonite's major weakness, in that they won't fade with time and use.