I had done this mod previously using another setup and didn't fully realize what the actual effect was until now. Previously, I had though doing this mod disabled the component cable output completely, but it does not. Instead this mod gives the component cable everything it needs to fully function in interlaced display mode and tricks the GameCube into not detecting that its plugged in at all.
Here are the pinouts for the component cable (taken from gamesx):


What we're concerned with here is pin 1, which is labeled as "detect cable" and is actually an output to the motherboard. What we need to do is sever the connection this pin makes going to the motherboard and put a "on/off" switch in between it so that you can turn progressive mode on or off. You can do this either on the component chip itself, or on the GC motherboard. Its as simple as that. If the pin 1 connection going to the motherboard is cut, you get interlaced mode and the GameCube will act like it doesn't even know the cable is plugged in.