Me saying all that Plod will know what they are looking at, if its a open race can they know the score.. Whats ODD is just as your bike passes an MOT does not mean its legal for use on the road, the whole road legal/race only thing is a VERY grey area! TBH if I were you just use it, keep it down in town and enjoy..
You may well doubt it, but they could. I could give you a couple of very similar examples from my own experience, but I don't like to air my dirty washing in public.