All right, I gave in and bought the Service Manual PDF from the Sam's Photofact website (I typically don't resort to this, but since the guy was willing to pay me to mod his set, I thought it would be justifiable). I took a close look at it and although I was wrong about the jungle chip being a CXA1013AS (it's actually a CX20193), it looks like it still uses Y/C, so it should be capable.
Expand the spoiler to see the diagram.
I'm guessing this is what I could try to do:
Lift the leg of C319 that's routed to C323, solder the leg to a wire on the upper left pin of a DPDT switch and solder the pad to the upper middle pin of the switch. Inject S-Video Chroma (Pin 4 on S-Video connector) to the upper right pin of the switch with a 100 nF capacitor in series and a 75 ohm termination resistor to chassis ground.
Ideas for Luma Injection:
A: Solder the Composite video input to the lower middle pin of the switch. Inject S-Video Luma (Pin 3 on S-Video connector) to the lower right pin of the switch. (Considering there's a 3.58 MHz Luma Trap filter in place, I fear that this might affect the image quality, but it should work nonetheless.)
B: Solder a wire from the base of Q303 to the lower middle pin of the switch. Inject S-Video Luma Pin 3 on S-Video connector) to the lower right pin of the switch with a 100 nF capacitor in series and a 75 ohm termination resistor to chassis ground.
Does this sound right?