I haven't tried it but I think a later 254/257/262 starter assembly (with the angled rope exit - 503 54 16-01) should work just as well as an earlier 254 assembly (501 86 75-03).To clarify: will the later 254/257/262 not work on the 154 flywheel?
Further re my comment:
"154 starter cover is unique. Early 254 starter will work perfectly but is slightly wider and the longer steel ferrule in the pulley should engage better with the flywheel pawls.",
I'd forgotten that the starter changes were made during the 154's production rather than introduced with the 254, as the attached Service Bulletin explains.