Rechambered to .308 Winchester?
ABSOLUTELY DO NOT FIRE IT! THAT IS AN UNSAFE CONVERSION AND THE BOLT CAN STRIP OUT OF THE RECEIVER INTO YOUR FACE!
The original 7.5 Swiss cartridge was a paper patched lead bullet with a load of smokeless powder that developed pretty sedate chamber pressures.
Even so, the bolt strength and design was recognized to be an issue, and as as smokeless powder technology evolved, the design of the bolt was changed in 1896 to make it stronger and less likely to fail.
Here's some good information: http://www.swissrifles.com/sr/