I am with you, personally I would love to see an Eclipse II in the rackmout format and I am one of the people who rack their Factor pedals.
Yes, the user interface would be the bigest hurdle, but there are ways of doing it VSIG does not look the most user friendly method, BUT not used it personally so am not in the best position to comment really. There are companies who have done some good interface work for this sort of thing, so if the desire is there to do it, it can be done.
I agree that the DSP has increased so much since the Eclipse was introduced that it probably could be put into a smaller pedal size, I guess it depends if there is a market for it.
I think a pedal format would be well received for a multiple factor, as people clearly love the Factor pedals and when then buy one, they often buy others. but does the Modfactor go before the TimeFactor…flexible routing would give you both for different presets.