| There are a couple of points here, the strength issue mentioned by Shazaam is the reason certain areas of the bike (brakes mainly) are included in the ACU Handbook where it is classed as unsafe to use Titanium fittings and is therefore against the rules.
Then there is the point of Production costs which is often the reason why less exspensive materials are used although more exotic materials would work just as well.
I have always taken note of the ACU ruling on Titanium fittings and use it as a guide.
For that matter I have had a alloy rear wheel nut on my 998 for the past 6 months without any problems. | 
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