This is true, if you halve your voltage and keep your hp the same your amperage will roughly double. I guess it depends on your goals. Is higher FLA bad? Wouldn't you just need to pull wires to the motor a little heavier?

Your FLA amps to the motor would be higher. But if your motor HP is staying the same, the line current supplying the controller would not change. The only change in amperage you'd see is between controller to motor. The old setup the current supplying the controller was just as high before but was being supplied to the transformer primary, and on the secondary side (controller to motor) the amps were lower due to higher voltage. But power consumed is power consumed regardless of voltage.