OK. Checking the ET4000/W32i BIOS, I see something weird:
the documentation mentions the reading of the monitor ID pins, but somehow, instead of reading the monitor ID pins using the switch sense pin (as documented) combined with the feature control register reads (whose bits 2-5 return the ID2-3 and some extra pins), masking off the 4-5 pins, and then uses that for a lookup table to determine the switch sense/feature bits byte at the BDA (offset 88h).
So it somehow reads the feature 0-1 pins as the ID0/ID1 pins for some weird reason (and aborts reading the higher pins if the result is 01h for the lower 2 bits).
Edit: It looks like the ET4000AX BIOS does the exact same thing. So it's something common to the chipset.
Modifying those bits to report ID0/ID1 results in 8Bh for monochrome (ID0/ID1 being 0 ID2 being 1) and 89h when color (switches 0110b).
Although oddly, it reports the top bit set for both cases?
Looking into the lookup table it uses to convert the looked up value returned from the feature ID function has the following results:
index=(base) address=value
0=33B 33E=00
1=341 344=01
2=347 34A=03
3=34D 350=43 =03h
4=353 356=04
5=359 35C=05
6=35f 362=06
7=365 368=07
8=36B 36E=09
9=371 374=49 =09h
A=377 37A=0A
B=37D 380=0B
C=383 386=83
D=389 38C=C3 = 83h
E=38f 392=89
F=395 398=C9 = 89h
the output bit 6 is cleared in the result. So those starting with C are actually starting with 8. And those starting with 4, start with 0.
Looking more into what's fed into it. It all starts with the feature control reads.
It can become AX=10h for feature bits 01b read.
It can otherwise become C30h for both set while read.
It's 0 otherwise.
CX is always 0 due to reading the switches from the ID pins, so the top bit in the lookup table is never cleared. So those are the actual lookup values from the ID pins using the feature control input and the top 2 bits from register 3CAh.
So the switches I'll need to cases 9 and B, are actually:
9 is just 9 (SW1 and SW2 on). nice.
B is B (SW3 on). nice.
But, the switch decoding logic is flawed. Since most cases are actually invalidated during reads, color mode has only SW0 set SW1 clear, but it results in the final entry, thus 89h. It sets feat3, but there's no other way.
Edit: Went with the classic switches of SW2 for monochrome and SW1 for color monitors, as is documented. That extra bit in the feature bits can't be helped, it seems a bug in the Tseng BIOS ROMs.
Other than that, the 'monochrome' mode is interesting. Grayscale summing is applied, although not everywhere. Prince of Persia seems to be proper greyscale, but Jazz Jackrabbit for example is only truly driving grayscale on the main menu and while loading the world, all else being in normal color. Even the main menu is in actual color, once you choose an option for a fraction of a second. That can be seen by POSTing with a monochrome monitor and then changing it to a color monitor.