DUDE yu are dead on correct!!!!
I had chrome plated end caps made approx $43 ... GoRino sent me new plastic caps but that was futile. They all melted. I have a chrome tip exhaust and thought my setup over the stock exhaust pipe end was my problem .
Try extending the step out to the third hole, it might not melt???
Also, Steel Horse has a SS One piece step same size with rounded SS ends. Hard to find except at the dealers and they want $$200 FOR IT. oUCH. i DID FIND A m/O HOUSE IN BROOKLYN that was wiolling to sell it for $120. After I haggled with them. I forgot the name of the place.
LT