You have to be careful when going beyond 1" on a butt extension for graphite. Splintering is definitely an issue, and most club builders highly discourage it. If they're inexpensive shafts that you can replace without a major cost, then the risk assumed is obviously convenience over cost.
I had my my driver extended 1.5 inches and it splintered after about 3 months of use. The club builder warned me ahead of time, but I went against his better judgement. When I looked up the replacement cost for the exact shaft, it was over $200.
That was an expensive lesson learned.