I have used expanding foam inside hollow CF gun-stocks .. it made no apparent difference in the stiffness of these, but it removes the "hollow" sounds, so makes the user feel a bit better ..

I suppose that in the case of a flat blade, it can help protect a bit against crushing the thinner parts of the hollow blade.
Always make sure that you leave at least one opening for the expanding foam to escape from --- the foam can create a very high pressure if the gasses can not escape.
And DO keep it in the mould ... the foam could easily deform the part, if its not supported. What kind of mould have you made?
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