Time serts are available in different lengths.....although you may not need to go to the longer studs/time serts.
your 7/16-14 studs have about 7 threads engaged right now. I'm going to use a diameter in the middle of the major and minor diameter for this exercise...because I think that's closest to being relevant. 7/16 is 0.435" or so, while the drill size for 60% thread engagement in a 7/16-14 thread is about 0.381" ... so lets use an effective diameter of .409". The circumfrence of a circle of .409" in diameter is about 1.28", times 7 threads engaged is 8.99 inches of thread length engagement. (if you could uncoil that piece of aluminum stuck to your stud, it would be that long)
If we go to an insert...the tap has a major diameter of .534", the drill is a 29/64"....and we'll use .495" for the effective diameter of this thread....it will have a circumfrence of about 1.55".
This size insert is available in a .400, .600, .870, 1.000, etc...length if we use a .600 insert (at 14TPI), we'll have 8.4 threads engaged, which results in about 13" of total thread engagement in the aluminum. That's 30% stronger...which will probably be just fine....I wouldn't be at all concerned with the 7 threads engaged in the insert by the stud, that'll be just fine too.
If you want a little more security, and you've got the meat in the casting, you can use a BIG SERT...which has a major diameter of .634", and earns you almost 16" of linear thread engagement....almost double what you had in the beginning.
This probably isn't the exact right way to calculate thread strength, but I bet I'm close. Glenn will be by shortly to straighten me out I'm sure

.
Oh, and stainless is pointless in an application that is not gonna rust anyway.