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Same deal Devan my man. I honestly do no know Sir. For Safety and Warranty reasons, I would ask Henry Customer Service directly at Tele: 201-858-4400 or by online inquiry here : henryusa.com/henry-repeating-contact/?concerning=technical-questions
Devan - you'd need to consult Henry. While a 327 revolve works fine with 32sw or 32 long, this is a totally different action, and we have no way of truly knowing - only Henry could answer that. In this video (by Henry) one sees the barrel is plainly stamped "327 Fed Mag/327 H&R mag (42 second mark) ..https://www.youtube.com/watch?v=xhzXVuTCy6M
You will need to ask henry to be sure Tele: 201-858-4400 or here : henryusa.com/henry-repeating-contact/?concerning=technical-questions