I personally doubt it because ethanol (a form of alcohol) has an octane rating higher than most gasoline. 115 octane rating , I think. But has way less BTU content per pound and that is what makes for poor mileage. Octane booster would just make it worse.
I have schemed and thought about adding kerosene or diesel to boost the BTU of ethanol gas but been too chicken to try it. Cannot seem to find the math to verify the idea. I think a physical test is the only way. I know! Let's use YOUR bike for the test!