These mods are functionally worthless, but I find them enjoyable to perform for a quick custom alteration. Sometimes it's just a matter of soldering in new components, but sometimes it requires rewiring other portions of the eye detection circuit (usually not)
Logistically, red eyes are easier to make functional due to the color wavelength. Some eye detection circuits are more discriminating than others; this tends to require the use of red eyes. In other markers (such as my I-LEB) you can use virtually any color.
Ion:
The mods below were done using the stock daughterboard, with a new emitter and detector. The green eyes required a new detector pull-down resistor as well.
Excalibur:
Shocker SFT:
DM3:
Shocker NXT:
This install was difficult to perform due to the nature of the stock components. The eye's flexible printed circuit is difficult to solder against (it's easy to fry) so it's tricky to install the new components. Both a new surface mount visble detector (second pic below) and a surface mount red LED (third picture below) were required. I also had to modify the eye detection resistors so the board would accept the new input signal for the items I chose to use.
Invert Mini:
This one was very difficult, since the board doesn't use traditional eye elements like most other markers. I not only had to modify the board to work with the new parts, but I also had to wire up a tiny (0603 package) red LED by hand then force it up into the eye hole. Ultimately this isn't a very good idea since disassembly for cleaning is made very difficult, but it's still a functional mod.