Geoff
Your 95% correct. Because the riser recoil "centre of force" is above the pivot point there is a torque tipping the bow (top limb) back. The riser recoil force on the bow hand is fairly complex - over time it's "hill" shaped and peaks somewhere around twice the draw weight.
Increasing bow moment of inertia has no effect on the recoil torque it only reduces the resulting angular acceleration. To get the bow to "hold still" you need to have a torque in the opposite direction to the recoil torque. Pushing the bow cog forward generates a gravity torque about the pivot counteracting the recoil torque. Why a bow feels forward heavy when holding it is because of this gravity torque which is always there.
This is why putting the bow cog at the grip doesn't work. You can only increase bow moment of inertia. You can do nothing to counteract the recoil torque.
I suppose you could install a bungee between the bottom part of the riser and your quiver belt.
The reason barebow archers add weight to the bottom part of the riser is partly to increase bow moment of inertia, but also as you tilt the bow (top limb back) the cog being below the grip moves forwards of the pivot and generates a gravity torque. Practically you can't lower the cog very far as the bow would get so heavy as to need a fork lift
JohnK...........BOOM!