Okay I finally crippled together some code, which for now appears to work.
Dim swApp As Object
Dim Part As Object
Dim SelMgr As Object
Dim boolstatus As Boolean
Dim Feature As Object
Sub main()
Set swApp = Application.SldWorks
Set Part = swApp.ActiveDoc
Set SelMgr = Part.SelectionManager
Part.SketchManager.InsertSketch True
boolstatus = Part.SketchOffsetEntities2(0.00127, False, True)
Part.ClearSelection2 True
Part.ClearSelection2 True
Part.FeatureManager.FeatureExtrusion True, False, True, 0, 0, 0.00127, 0.00254, False, False, False, False, 0.01745329251994, 0.01745329251994, False, False, False, False, 1, 1, 1
Part.SelectionManager.EnableContourSelection = 0
End Sub