There have been many studies and it is perfectly safe to shoot 2 3/4" shells in a 2 1/2" 20 bore model 12. The belief once was that the case mouth opened into the forcing causing a pressure spike. This has been proven to be untrue. There is a slight increase but your Model 12 is plenty stout enough to handle that and then some. The big issue is the proof of the gun. Short chambered English guns often are not proofed to handle modern North American 2 3/4" 20 bore cartridges. Even the lights loads you intend to use will be at or over 9000 psi very little less than a standard 20 bore hunting cartridge. Check out double gun shop dot com search out the thread on short chambers it is very eye opening and interesting. The short chambered Model 12 20 bore I had ran 2 3/4" cartridges with no issues.
Darryl