Hi Chris,
I am certainly no expert, but I have handled repairs similar to this on in the past. My initial response would be to steer you away from just using Marine JB weld and clamps. Here's my recommendation:
1) read-up on repairs--this is the most helpful site I could find:
boardlady.com/repairmenu.htm
2) I would then sand/grind off all of the damaged material (outer layers of fiberglass, Divinycell, and any foam core that is loose or damaged. Unless it is uncracked and firmly attached, it needs to be sanded off. Your board is a sandwich construction, which means its construction is outer layers of glass, divinycell, inner layers of glass, then foam core. Best case would be to have the glass/divinycell/glass "sandwich" separated from an undamaged core. However, my guess is that you most likely have a bit of damage to your core as well.
3) As detailed by the Board Lady, the ultimate goal is to replace each layer with a similar material so that your board does not develop any stress risers as it flexes.
4) If you need to replace the core, I have had luck using a two-part polyurethane to rebuild the core. This is a bit of a pain. I created a crude form using saran wrap and duct tape, added the two-part polyurethane mix, and then sanded it to shape. It was super messy and you want to make sure that the polyurethane does not have any voids--and that it is firmly attached to the "good" core material. It may be tempting to just use epoxy, but epoxy is much stiffer than the foam core material and will lead to stress cracks over time.
5) Once the polyurethane core is sanded to shape, you can glass this as you would any other repair:
-cut your pieces of fiberglass and/or carbon to be a bit larger than your repair area
-lay them up at angles so that the fibers are running in different directions
-wet out the fiberglass/carbon with a two-part epoxy (I use west systems epoxy with the slow hardner)
-use a squeegy to force out as much resin from laminate as possible--keep going until you can see the texture of the fiberglass
-professionals would use a vacuum set-up. I don't have a vacuum pump, so I use saran wrap or other plastic material and duct tape/strapping tape to apply pressure to the laminate while it cures. You want to make sure everything is pressed firmly together and that none of the pieces of glass/carbon are floating on a layer epoxy
-let it cure and then sand to feather the repair into the existing fiberglass
-add fairing compound (silica microbubbles, etc.) to expoxy, apply to fiberglass and sand until the surface is level--I sometimes skip this step depending upon my motivation....
-paint (If you don't use a fairing compound, it will take much more paint to cover)
If the damage is relatively shallow, but still into the core, I have done something like this with success in the past:
boardlady.com/wipeout.htm (essentially creating a thick divinycell sandwhich to repair the damaged area)
JB weld or any other epoxy does not provide any structural strength--the fiber material in the composite, such as fiberglass/carbon/kevlar/etc. provides all the strength. To be a strong repair, you really need to repair the fiberglass and in order to be strong, the fiberglass need to be attached to undamaged material.
Regarding tools, I use a 90 degree drill with a foam sanding pad and various grits of sandpaper--I have found this give me better control than using a standard drill.
Let me know if you have any questions. I can post a few pictures next week when I have a better internet connection.
I hope this helps!