I don;t know about the M50 grips, but I think they will use the same 1-inch bar as the rest of the cruiser line...I'll see if I can find out (my buddy owns a dealer).
Removing the grips is easy. On the left side, just unscrew the bar end weight and twist the grip off. If it is stuborn, separate the two sides of the switch box to expose the end of the grip and tap it loose with a hammer. Once it starts it will come right off. On the right side, unscrew the bar weight, separate the switch box, pull the end of the throttle cable out of the slot in the throttle sleeve. The grip will fall right off. Install is easy: slide the grip on, connect the throttle cable, put the switch box back together, and adjust the throttle cable for 1/8 of an inch of free play. For the other side, smear on the glue and slide the grip on. Done.
If you have to re-use the stock throttle sleeve because you bought the universal grips, then you have to cut the stock grip off and glue the new on on the sleeve.