AFAICR, the part of the code that would have to be removed wouldn't be GRADD (as I don't think it contains anything more than was available on the DDK) but... SciTech I believe had an NDA with ATI. I suspect that the ATI specific code would have to be removed... and as that is more than half of the supported chipsets, I'm afraid that renders most of the product far less useful.
MenSys, or whoever, would need to take on SNAP on a commercial basis - buy the IP - and ask ATI to be successors under the NDA. It would then need to remain closed-source.
So, IMHO, asking the new owners of SNAP to open-source it is counter-productive. Not only would it be expensive to get the code reworked to get the ATI stuff removed, it might actually be cheaper just to buy the rights to the code and IP - assuming MenSys would be intrested in doing so.
Moby.