The TTR90 starts off with a different stroke, so 120 is a 53.5 bore. The cylinder isn't just a bore in for the 120, it has to be sleeved to go that big. I don't know if the cases on the 90 are the same as the 50, if they are, then that sleeve would be really thin. As for the boring of the 50 cases, if you have to do that, it is no longer just a bore in project.
To the thought on the 90/120 moving enough air. A guy who is used to a CRF50 that is at either 88 or 104 isn't going to be happy with a motor that is all bottom end and doesn't rev (generally speaking). The 120 kit is an improvement for the 90, but you start robbing peter to pay paul when you get that big.
In the case of the 50, you are going to have to compare it to the Honda, if the power isn't usuable, its isn't worth doing. The 90 is unique, its not used much in the mini scene, this might be part (other than chassis) of the reason.
You can always go bigger, on just about anything, but it has to be worth the time and money.
Joe