To convert the sensor to monochrome, the Mosaic filter with the red-green-blue filter elements needs to come off. To be Monochrome-visible, the IR absorbing filter needs to stay in place. I have read of some people using acetone to take the filter and microlens array off. You want to use a microlens array, just do not put any dye into it.
Kodak would be willing to make a run of Monochrome KAF-18500 sensors if Leica wanted them. I talked to them about it, as I did many years ago in having an Infrared version of the Kodak DCS200 made.
As to what is required for firmware on Monochrome- it's mostly bypassing routines in the firmware. You do not need to interpolate, just present the pixels as they are. No need for color balance. Raw is easy- just work with the values stored. Scale them to 8-bit values for display on a computer, or 16-bits if the adapter can handle it. As you do not need to interpolate, you get a slightly bigger image as you can use the pixels at the edge of the sensor.
I suspect Leica's biggest problem is maintaining two versions of firmware, one for monochrome and one for color. Having one version of firmware for both would probably produce code that is too big for the embedded processor. "Conditional Compile" is a programmers technique for coping with this problem. Source code is maintained as one version, "Compile time Switches" are used to produce the executable for the target device. One of the tricks that I used to do in supporting multiple versions of hardware.
Phase I makes a digital monochrome camera, reviewed here:
http://www.luminous-landscape.com/reviews/cameras/achromatic.shtml
I talked to Kodak about making Infrared version of the Kodak DCS200m in 1993. They called me back, and let me know the Army wanted the same thing. They did a run of 50 KAF-1600 arrays without the integrated IR cut filter. The firmware in those days was simple: Raw only, read into Photoshop. If Leica were to do a Monochrome camera, the easiest way to quickturn the firmware would be to offer it in DNG only, either 8-bit or 16-bit mode. The Display routines are there, and the "white balance" routines could be bypassed.
It was all so much easier when we wrote our own firmware for our Custom digital imagers.