Interesting (and ballsy, as said!). Does the book say whether the loft profile was adapted to provide a steep impact angle? I suspect that even had the codes been compatible, they might have struggled to get good guidance onto the runway with a standard loft: maximum laser reflection on a non-mirrored surface is perpendicular to that surface (regardless of where the laser is coming from) and reflected intensity falls away rapidly beyond a cone of 45 degree semi-angle from that axis. Lofted early-model Paveways came in much shallower than that and hence struggled to guide against flat horizontal surfaces like runways. From the Joint Pub you posted earlier it looks like this was well understood by 1991, so would be interesting to know if it was in 1982.
Another problem with the shallow impact angle of lofted early Paveways was weapon effects; even if it had guided you'd have to question whether the impact angle would have been sufficient for the weapon to penetrate the runway surface, rather than ricochet and detonate 'relatively' harmlessly on top. Again it would be interesting to know whether enough was known in these early days to take that into account?