Easy Composites› Matt
Actually, although foam cores certainly have their place, adding a foam core in a bike frame wouldn't allow you to increase the strength-to-weight ratio of the bike frame beyond what is achievable using a hollow structure. Quite simply, if it was, manufacturers would do it; it's not difficult or expensive technology and the mechanical behaviour of cored structures is well understood. Foam, and other types of core - such as honeycombs, are used extensively in composites but they tend to be effective where the shape is not intrinsically strong, like flatter surfaces. Triangulated tubing, like a bike frame, would benefit less from the additional weight of a core than it would from the additional weight of more reinforcement in the tubes themselves.