I found a company that offers software/hardware to program MEFI 1 - 4B ECMs but I'm not sure how well it works. There setup is about $2K which is ok for me if it works well. Although I would have no problem sending that money to the EFI Live folks if they could make their software work with the ECM.
I've considered the notion of trying to retrofit the Mercruiser engine with GM hardware so that I could use a GM OEM ECU and work with EFI Live but there are several assumptions that would need to be addressed before heading down that path.