Shimano built up some outboard track crank setups for the Australian and British teams to test. They didn't like them. The biggest complaint was that the larger bearing circle with the outboard cups couldn't be made as stiff under high wattage as one contained within the bottom bracket shell. They also didn't like the larger bearing diameters -- there always has to be some slight slack between bearings so they don't rub against each other, and again under high wattage outputs the axle would tend to force a gap in the bearings (even with a clip in place) and have to click over each bearing. This isn't a problem at the maximum outputs experienced in road racing, but a track sprinter is something else
From WW